Mr Trump is more transactional than presidents before him, which increases the risk of cronyism and self-dealing. But America’s economy, including its technology industry, is too unwieldy and dynamic to petrify into an actual oligarchy, whatever diplomats and departing presidents say. ■

A who's who of tech titans, business magnates, and global elites attended President Donald Trump’s 2025 inauguration, including Musk, Bezos, and Zuckerberg.

WASHINGTON, DC – JANUARY 20: Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk attend the Inauguration of Donald J. Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, D.C. Photo by Julia Demaree Nikhinson – Pool/Getty Images.

The LVMH Moët Hennessy Louis Vuitton titan had prime seating near former Presidents Bill Clinton, George Bush and Barack Obama.

In one way, Bay Area tech CEOs’ very visible presence at President Donald Trump’s inauguration on Monday was an almighty flex, a crowning moment for an industry that has remade the economy and society.

Seated directly behind the president at his second inauguration and representing a power shift in U.S. politics were top executives of the world’s largest tech companies.