About 1 in every 13 dollars spent in the 2024 election came from a handful of US billionaires.

With high-profile billionaires playing visible roles around President Donald Trump’s administration — including wealthy advisors, prominent donors at his inauguration, and several cabinet members with billionaire-level fortunes — the ultra-wealthy are exerting an unusually strong influence on American political life.

It doesn’t just look like billionaires have more political influence. Their concentrated spending is influencing policy priorities in areas that directly affect Americans’ wallets, from taxes and healthcare to consumer protections and industry regulation.

Regardless of your political leanings, here’s how the growing political influence of the uber-rich could have an impact on your daily life.

Income inequality has been rising in the U.S. for decades (1), and the rich are getting richer — there are now roughly 902 billionaires in the U.S. (2) who are collectively worth more than $6.7 trillion. (3) That’s double the number of billionaires from just over a decade ago, according to Forbes data.



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