The Role of Technology in Crony Wealth

A vast majority of billionaire wealth in America is not crony capitalist by our measure. However, what I would say is that tech wealth exhibits some of the characteristics of cronyism. Tech companies have massive market shares in the States and they spend tons of money on lobbying in Congress. But since Xi Jinping, China's president launched a corruption drive, crony wealth has fallen from about 50% of all billion air wealth in 2012 to about one quarter today.