President Joe Biden delivered a grave farewell address on January 15, 2025, warning of the growing influence of an ultrawealthy “oligarchy” threatening American democracy. Speaking from the Oval Office, Biden highlighted the dangers posed by the concentration of wealth and power, likening the current moment to the Gilded Age of the 19th century. His address marked the end of his presidency as Donald Trump prepares to take office once again.
Biden’s speech was as much a reflection on his presidency as it was a call to action. He expressed concerns about the erosion of democratic institutions under the influence of “a few ultrawealthy individuals,” whom he did not name but warned were reshaping society for personal gain. “An oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy,” Biden said, emphasizing the need to safeguard institutions like Congress, the courts, and a free press.
Though he avoided mentioning Donald Trump directly, Biden’s reference to amending the Constitution “to make clear that no president is immune from crimes” was a pointed critique of the Supreme Court’s decision last year, which granted Trump immunity for certain actions during his efforts to subvert the 2020 election results. Biden’s remarks also came amid heightened scrutiny of the ties between Trump and prominent billionaires, including Elon Musk, Mark Zuckerberg, and Jeff Bezos. Musk’s visible alignment with Trump, alongside Zuckerberg’s decision to scale back Meta’s fact-checking efforts, underscored Biden’s concerns about the role of social media in spreading misinformation. “The truth is smothered by lies, told for power and for profit,” Biden remarked.
Biden urged Americans to stay vigilant, calling on them to preserve democratic ideals and institutions. He compared the current climate to the age of robber barons, calling for bold reforms to address wealth inequality and remove dark money from politics. While his address focused heavily on the threats facing democracy, Biden also expressed pride in his administration’s accomplishments, including rebuilding infrastructure, boosting manufacturing, and strengthening health care. “The seeds are planted,” he said, voicing hope that the impact of his policies would be felt for decades.
The president also celebrated his recent diplomatic victory: the ceasefire agreement between Israel and Hamas, finalized just hours before his address. Yet, even this achievement was overshadowed by his recurring warnings about the fragility of democracy. Biden’s tone reflected lingering frustrations over the political challenges that defined his presidency, including his decision to withdraw from the 2024 presidential race late in the campaign. He acknowledged the disillusionment many Americans feel but implored them not to give up.
“The president’s power is not unlimited, it’s not absolute, and it shouldn’t be,” Biden declared. In his final plea, he urged citizens to remain engaged and defend the values upon which the United States was founded. “After 50 years of public service, I give you my word, I still believe in the idea for which this nation stands.”
As Biden concluded his presidency, his farewell served as both a reflection on his legacy and a somber warning for the road ahead. “Now,” he said, “it’s your turn to stand guard.”