President Joe Biden offered up a few surprises in his farewell address. Instead of simply summing up his term in office, he warned Wednesday about the increasing influence of the ultrawealthy, criticized disinformation on social media and called for continuing the fight against climate change.

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

US President Joe Biden says the American people are being “buried under an avalanche” of misinformation and disinformation – enabling the abuse of power.

President Biden stated that it was important for Americans to continue believing in the democratic institutions that governed the country, claiming that they were being eroded by those with ‘excessive wealth’.