Speaking on the ongoing concentration of wealth and influence in the United States, Sanders said the nation is now witnessing “never before” levels of economic and political power in the hands of a small group of oligarchs.
While U.S. billionaires became $1.5 trillion richer last year, the average worker in America has just $955 in retirement savings & 21% of seniors are trying to survive on less than $15,000 a year.
— Bernie Sanders (@BernieSanders) February 15, 2026
That’s why I’ll be in LA this week fighting for a wealth tax on billionaires.
Sanders highlighted that while billionaires continue to accumulate wealth at an unprecedented rate, ordinary Americans face precarious financial conditions, including insufficient retirement savings and rising economic insecurity. “While U.S. billionaires became $1.5 trillion richer last year, the average worker in America has just $955 in retirement savings & 21% of seniors are trying to survive on less than $15,000 a year. That’s why I’ll be in LA this week fighting for a wealth tax on billionaires,” Sanders wrote in a social media post.
The senator has repeatedly warned that concentrated wealth also translates into concentrated influence over the economy, political life, and media. Sanders noted that billionaires are investing trillions of dollars in artificial intelligence and robotics, technologies that could have disruptive consequences for the working class. “Never before have so few Oligarchs held so much power over our economy, political life and media. Now they’re investing trillions in AI and robotics which could devastate the working class. I’ll be in California this week discussing these issues. Please join me at our events,” he added.
When we talk about authoritarianism, it’s not just Donald Trump.
— Sen. Bernie Sanders (@SenSanders) February 3, 2026
Musk owns X
Bezos owns Twitch
Zuckerberg owns Instagram and Facebook
Larry Ellison controls TikTok
Billionaires increasingly control what we see, hear and read.
Sanders has frequently underscored how billionaire ownership of major communication platforms gives them outsized sway over public discourse. He pointed to Elon Musk’s control of X, Jeff Bezos’ ownership of Twitch, Mark Zuckerberg’s management of Facebook and Instagram, and Larry Ellison’s influence over TikTok as examples of this trend. “When we talk about authoritarianism, it’s not just Donald Trump. Musk owns X, Bezos owns Twitch, Zuckerberg owns Instagram and Facebook, Larry Ellison controls TikTok. Billionaires increasingly control what we see, hear and read,” Sanders said in a previous post.
The senator’s remarks frame these developments as part of a broader shift toward oligarchy, where a small cadre of ultra-wealthy individuals exerts substantial influence over government, the economy, and information flows. His focus on billionaire control of major media and technology platforms comes at a time when these channels are primary sources of news, entertainment, and political engagement for hundreds of millions of Americans. Sanders has called for policy measures such as a wealth tax to address growing inequality and to limit the influence of concentrated wealth over public life.
Sanders’ statements arrive amid a wider national debate about the social and economic consequences of extreme wealth accumulation. Analysts note that such disparities not only affect individual financial security but also the capacity of the working class to influence policy and participate meaningfully in the political process. The senator’s planned events in California this week aim to spotlight these issues and advocate for measures aimed at reducing wealth concentration while safeguarding economic stability for ordinary Americans.
