Quinn on Trump’s ‘Billionaire Cabinet’ and the Rise of Silicon Valley Power
Quinn Slobodian, Professor of International History at the Pardee School of Global Studies, examines the unprecedented dominance of billionaires in Donald Trump’s second administration in a recent commentary published by The Guardian. Slobodian argues that while wealth and power have always been intertwined in American politics, the scale, sector, and strategy of elite influence are now shifting in ways that could redefine governance itself.
Trump’s incoming cabinet, valued at over $7 billion – double that of his first term – marks the most billionaire-heavy administration in U.S. history. While Wall Street once controlled the revolving door between business and politics, this time, it’s Silicon Valley taking the reins. Figures like Elon Musk, venture capitalist David Sacks, and PayPal co-founder Peter Thiel have moved from the periphery of political influence to direct power, shaping policy on AI, cryptocurrency, and global governance. Musk, tapped to lead Trump’s advisory “department of government efficiency,” symbolizes this shift, wielding influence that extends beyond business into international diplomacy, infrastructure, and military contracts.
Slobodian highlights how this new class of “oligarchs” is not just seeking economic deregulation but actively reshaping governance itself. Unlike the Wall Street financiers of previous administrations, many of these tech billionaires hold a deep skepticism – or outright hostility – toward the traditional nation-state. Some, like Thiel, have openly advocated for breaking up governments into smaller, corporate-led entities. Others, like Musk, have promoted ideas akin to “soft secession,” using private wealth to build company towns and even envisioning escape routes from Earth itself.
As billionaires consolidate power within the Trump administration, Slobodian warns that their ambitions go beyond tax cuts and business-friendly policies. They are laying the foundation for a new political order—one where the ultra-wealthy not only control the economy but also redefine the very nature of the state. Whether this results in further innovation or an erosion of democratic governance remains to be seen, but one thing is clear: Silicon Valley is no longer just lobbying Washington – it is running it.
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