FAQs
The wealthy elite refers to a small group of people who hold an outsized share of a society's wealth, power, and influence. They often have significant control over economic resources and political decisions.
What is rule by a powerful and often wealthy elite known as? ›
Throughout history, power structures considered to be oligarchies have often been viewed as coercive, relying on public obedience or oppression to exist. Aristotle pioneered the use of the term as meaning rule by the rich, contrasting it with aristocracy, arguing that oligarchy was the perverted form of aristocracy.
Who are the wealthy elite? ›
The American upper class is a social group within the United States consisting of people who have the highest social rank, due to economic wealth, lineage, and typically educational attainment. The American upper class is estimated to be the richest 1% of the population.
What defines wealthy? ›
People, organizations, and nations are said to be wealthy when they have accumulated many valuable resources or goods. Wealth can be contrasted with income in that wealth is a stock and income is a flow.
What is rule by the elite rich? ›
A plutocracy (from Ancient Greek πλοῦτος (ploûtos) 'wealth' and κράτος (krátos) 'power') or plutarchy is a society that is ruled or controlled by people of great wealth or income. The first known use of the term in English dates from 1631.
What is the rule of the elite? ›
The rule of the elite is based upon (not-necessarily explicit) force and fraud. The social structure is sustained by a political formula that typically correlates with a generally accepted religion, ideology or myth.
What is rule by a few elites? ›
Oligarchy, meaning "rule of the few", is a form of power structure in which power rests with a small number of people. These people might be distinguished by nobility, wealth, family ties, education or corporate, religious or military control.
How much money is considered elite? ›
Being in the top 20% of earners in California means making at least $171,387 a year. The Golden State, known for its pricey real estate and high cost of living, particularly in cities like San Francisco and Los Angeles, demands a substantial income to be considered wealthy.
Is elite the same as rich? ›
Defined by the Cambridge Dictionary, the "elite" are "the richest, most powerful, best-educated, or best-trained group in a society."
Does elite mean upper class? ›
Working or lower class individuals earn much less than the upper and middle class and hold very little power in society. In a frontier or emerging economy, there are often only two classes—the working class, or poor, and the upper class, or elite.
“Superelite.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/superelite.
