Outgoing U.S. President Joe Biden delivered a powerful farewell address, warning of the emergence of a “dangerous” oligarchy in America and reflecting on his decades-long political career.
“An oligarchy of extreme wealth, power, and influence is taking shape in America, threatening our democracy, basic rights, and freedom,” Biden said on Wednesday during his final televised speech from the Oval Office.
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The 82-year-old former president criticized an ultra-wealthy “tech-industrial complex,” warning of its unchecked power. He also highlighted threats from climate change and the spread of disinformation on social media.
Biden’s address outlined achievements of his single-term administration, including job creation, infrastructure investments, healthcare reforms, navigating the COVID-19 pandemic, and enhancing national safety. Despite these accomplishments, he noted, “It will take time to feel the full impact of all we’ve done… but the seeds are planted.”
Although he extended well wishes to Donald Trump’s incoming administration, Biden cautioned, “So much is at stake right now.” On climate change, he criticized powerful entities for attempting to roll back progress for “power and profit.” On disinformation, he said, “Americans are buried under an avalanche of lies, enabling the abuse of power,” specifically targeting social media platforms like Meta for abandoning independent fact-checking.
Biden’s critique of the “tech-industrial complex” appeared to reference figures like Elon Musk, the world’s richest man, who supported Trump’s campaign, as well as other tech leaders such as Jeff Bezos and Mark Zuckerberg, who have sought closer ties with the incoming administration.
He urged Americans to protect the country’s values, concluding with, “May you all be the keeper of the flame.”
Biden also announced a ceasefire agreement between Israel and Hamas, effective January 19, a day before Trump’s inauguration. He called the negotiations “some of the toughest of my career” and claimed credit for securing the deal. Trump, however, has attributed the agreement to his election victory in November.
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