In his farewell address from the Oval Office on Wednesday, US President Joe Biden warned Americans of a "dangerous concentration of power" in the hands of a "tiny handful of the super-rich", which he feared would have implications for US democracy. "Today, America is becoming an oligarchy - one in which extreme wealth, power and influence actually threatens our entire democracy, our fundamental rights and freedoms, and everyone's opportunity to move forward fairly," said Mr. Biden, who was joined by his family and longtime aides. Mr. Biden said he feared the consequences if wealthy Americans used their influence to win tax breaks, roll back efforts to combat climate change and reduce accountability. He drew parallels to former President Dwight Eisenhower's farewell address, in which he warned of the "military-industrial complex" and said the country now faced threats from the "technology-industrial complex."