By The Russian invasion of Ukraine triggered an unprecedented crackdown by the United States and other Western nations on the mansions, megayachts, and bank accounts of Russia’s ultrawealthy tycoons. Yet targeting Russia’s oligarchs surfaced some uncomfortable questions about our own political and financial systems and the people who shape them. So we thought it was time for a good, long look in the mirror. For our January + February 2024 issue, Mother Jones explores the rise and power of the emerging class of billionaires—fueled by the monopolistic growth of Big Tech—who are remaking America in their own decadent and extractive image. Their bored whims and futuristic fantasies shape how and where you live and work, even as their own worlds are increasingly siloed off from the rest of us. Welcome to the American Oligarchy.
Part One
Introduction
The Rise of the American Oligarchy
What targeting Russia’s wayward billionaires revealed about our own.
It’s Time the Word “Oligarch” Lost Its Russian Veneer
America does oligarchy better than anyone.
Part Two
Hoarding
How the US Became the World’s Refuge for Dirty Money
Who needs the Bahamas anymore when you’ve got Sioux Falls?
The Dark Side of the $100 Bill
Benjamins are fueling international crime and corruption. So why are we printing more than ever?
When Gilded Age Lawmakers Saved America From Plutocracy
And how Biden’s team is using their playbook to take on Big Tech.
How the Rich Keep Their Riches Out of Reach
Eight ways to hide an asset
Refuge for the Robber Barons
Deranged stalkers? Bitter exes? Angry mobs? Tom Gaffney’s clients are ready.
This Is What It Costs to Be Rich
Our attempt to document the uncommon common costs for the uber-wealthy.
Martha’s Vineyard Is Being Gutted by Skyrocketing Housing Costs. Yes, You Should Care.
The fight for affordable year-round housing in this elite summer destination offers lessons for dealing with a national crisis.
Part Three
Influencing
Philanthropy in America Is Broken
We taxpayers heavily subsidize ultrawealthy giving. But who really benefits?
Billionaires’ Giving Pledge: Part Tax Strategy, Part PR Stunt
Has it made the world a better place? You be the judge.
A Brief History of Superyachts
And how they explain the world.
How “Woke Capitalism” Became a Right-Wing Obsession
Vivek Ramaswamy may no longer be running for president. But his anti-ESG legacy has already won.
Receipts. Proof. Timelines. Screenshots: Why We Can’t Look Away From Rich People’s Drama
The uber-wealthy are losing it over the dumbest things—and we’re hooked.
How Hollywood Learned to Eat the Rich
From “Clueless” to “Parasite,” film and TV have long been barometers for how Americans feel about wealth.
Part Four
Dominating
Elon Musk’s Texas Takeover
How the world’s richest man transformed the Lone Star State into “the modern incarnation of the company town.”
There Is a Very Good Reason Why Donald Trump Thinks Everything Is Rigged
In business, he was a master of gaming the system.
Meet the Silicon Valley CEOs Who Insist That Greed Is Good
Even if “effective accelerationism” kills us all.
These Billionaires Want to Disrupt Death—and Keep Their Fortunes Forever
Sci-fi meets Silicon Valley meets the trust industry.
Welcome to America’s Wealthiest Zip Code
Our guide to one of the nation’s priciest plutocrat playgrounds.
Monet Changes Everything
Tainted billionaires rejoice—redemption is an auction away.
Australia vs. Rupert Murdoch
What’s the future of the aging mogul’s global empire? Look to the place where it all began.
