It is appalling. Billionaires and now a trillionaire amass power in a way that is completely disruptive to democratic society.
Look at what happens - they buy the media, and they buy the politicians. Their wealth is such that it continues to grow exponentially, and they get richer far faster than the economies of the world grow. This is why their wealth becomes a larger and larger percentage of the total wealth of the entire planet. For that to happen there has to be a transfer of wealth - money is moving from everyone else to them.
We are all seeing the effects of that, like frogs gradually being boiled. When we feel that life is getting more and more expensive, when we worry that our children won’t be able to get a decent paying job, when we see home ownership become unobtainable for ordinary people - all this comes from the wealth of the planet becoming concentrated in the hands of fewer and fewer people.
For the vast majority of us, standards of living are falling, but for a tiny minority their wealth accelerates faster than they can possibly ever spend it.
This situation won’t change unless we choose to use the one thing we do have, strength of numbers, to change it. Otherwise it will continue to happen, eventually they will own everything, and all we will be able to do is rent the things we need from them with our time and labour. Societies have been run like that before, there is nothing to stop it from happening again unless we exercise our right to make changes while we still can.