"Today an oligarchy is taking shape in America that literally threatens our democracy, our basic rights, our freedoms," the president said.

Ahead of President-elect Donald Trump’s inauguration less than a week away, President Joe Biden is set to give his farewell address on Wednesday evening. The speech is expected to focus on his administration's achievements.

After four years in the White House – and a half-century in Washington – President Joe Biden has said farewell.

The outgoing US President sounded an alarm about an “oligarchy” of the ultra-wealthy taking root in the country and of a “tech-industrial complex”.

"We see the same dangers in the concentration of technology, power and wealth," Biden continued. "In his farewell address, President Eisenhower spoke of the dangers of the militar

US President Joe Biden’s farewell address | Full speech In his farewell address on Wednesday (Jan 15), outgoing US President Joe Biden reflects on his 4-year term, highlighting achievements like job creation and infrastructure modernisation,