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Report Names 'Corporate Oligarchs' Who Are Cashing In as Trump-GOP Austerity Assails Workers
"Trump's presidency is a vehicle for billionaires to loot the government and line their own pockets, while working people bear the cost," said one advocate.
Jun 18, 2025
Climate action, pro-democracy, and other civil society groups have warned for months that the Trump administration and Republicans in Congress are intent on cutting essential programs that millions of Americans rely on while providing the richest households and corporations with at least $5 trillion in tax cuts and other benefits.
But while tech CEO Elon Musk has been highly visible since President Donald Trump took office and selected him to spearhead the administration's slashing of hundreds of thousands of federal jobs at the Department of Government Efficiency (DOGE)—an advisory board Musk has since left—other billionaires who are among the top people set to cash in from Trump's policies are less known to the public, even as they wield considerable influence over corporate regulations, privatization, and right-wing attacks on renewable energy.
In a report released Tuesday, the grassroots group Popular Democracy in Action details how six of the top beneficiaries of Trump's assault on social services and his xenophobic, pro-corporate, anti-science policies are cashing in while people across the U.S. struggle with the rising cost of living; fear the administration's mass deportation campaign; and brace for cuts to Medicaid, education, and Social Security.
Along with household names like Musk and Amazon founder Jeff Bezos—a former Trump critic—the report, titled Trump's Corporate Oligarchs, points to fossil fuel billionaire Harold G. Hamm, founder and chair of Continental Resources, as someone who has spent years working "behind the scenes to advance oil and gas interests."
Hamm is not among the more than 10 billionaires who have nabbed powerful positions within Trump's administration—making his Cabinet the richest in U.S. history, with a collective net worth of $460 billion. But with close ties to Interior Secretary Doug Burgum, Hamm has pushed to undo former President Joe Biden's fossil fuel regulations within the Inflation Reduction Act and urged Trump to fast-track drilling permits, likely harming poor and rural communities that are disproportionately used for fossil fuel extraction.
Last year, it was Hamm who organized a dinner at Trump's Florida estate, Mar-a-Lago, where the then-presidential candidate allegedly promised 20 oil and gas executives he would repeal environmental regulations if they raised $1 billion for his campaign.
Hamm's company reported over $714 million in tax savings in 2018 from Trump's so-called Tax Cuts and Jobs Act, which included the corporate tax cuts that the GOP now seeks to make permanent—while taxpayers pay more than $20 billion per year toward fossil fuel subsidies, putting their own communities at risk from climate disasters.
Hamm and Trump's other wealthy donors are able to benefit directly from their chosen candidate's policies—to the detriment of the American public—"because the U.S. is currently functioning as an oligarchy: a government where a small group of powerful, wealthy people are calling the shots," reads the report.
George Zoley is another lesser-known oligarch who has donated hundreds of thousands of dollars to Trump's campaigns and is now reaping the rewards as the private prison corporation he founded, GEO Group, benefits directly from the president's mass deportation campaign.
Zoley told shareholders shortly after Trump was reelected in November that the coming anti-immigration crackdown would present an "unprecedented opportunity" for GEO Group, which provides 40% of the beds used for Immigration and Customs Enforcement detention and is the largest provider of ICE transportation services.
The company was also awarded a $1 billion, 15-year contract to open and run the Delaney Hall immigration detention center in Newark, New Jersey.
"GEO Group is incentivized by profit to be a willing and enthusiastic partner in the Trump administration's mass incarceration,
detention, and deportation plans," reads the report. "GEO Group has been and will continue to be a key force behind the targeting and criminalization of poor, working-class, marginalized communities—including immigrants."
Trump's anti-immigration agenda is also being partially fueled by big data firm Palantir, co-founded by another of the oligarchs profiled by Popular Democracy in Action: Peter Thiel, a former mentor of Vice President JD Vance who, despite publicly criticizing Trump during his first term, provided "mission-critical" digital profiling tools to ICE to help track immigrants and conduct raids.
Thiel's "anti-democratic, libertarian philosophy" also underpinned the Trump administration and DOGE's work "dismantling federal agencies, attacking diversity and equity programs, pushing deregulation, and dismantling public aid."
Despite his past criticism of Trump, Thiel's often secretive firm is projected to report more than $2.6 billion in revenue from government contracts in 2025 as Palantir provides support to the president's mass deportation agenda.
"Trump's presidency is a vehicle for billionaires to loot the government and line their own pockets, while working people bear the cost," Analilia Mejia and DaMareo Cooper, co-executive directors of Popular Democracy in Action, said in a statement. "These cuts to Medicare, housing, [Supplemental Nutrition Assistance Program] benefits, and immigrant protections aren't accidents—they're part of a calculated scheme to turn public suffering into private profit."
The report names Musk, the world's richest person with a net worth of $389.4 billion, as the top beneficiary of the Trump administration, even though the Tesla CEO has officially parted ways with the White House.
After spending $235 million to help Trump get elected, in addition to wielding unprecedented influence over the administration, Musk is poised to benefit from billions of dollars in government contracts and foreign deals for his Starlink satellite service—all while benefiting from Trump's tax cuts and pushing to gut the social safety net.
The report also highlights Bezos, who has been accused of censoring The Washington Post's coverage of Trump and the 2024 election, as a top beneficiary of the president's second term. Bezos' space technology company, Blue Origin, was awarded a $2.3 billion contract in April, and he has pledged to "help" Trump as he moves toward "reducing regulation"—including by gutting top worker protection agencies and placing low-income workers at Amazon in harm's way.
Popular Democracy in Action also highlighted corporate landlord Blackstone CEO Stephen Schwarzman and Big Pharma giant Eli Lilly CEO David Ricks. Both have benefited from Trump's tax cuts, while Schwarzman has pushed for corporate deregulation and fought against protections for renters. Ricks was a major opponent of the Inflation Reduction Act's Medicare drug price negotiations program, and benefited recently when Trump "signed a healthcare executive order that will create longer delays before Medicare can negotiate certain drug prices," making healthcare more expensive for seniors while raising Eli Lilly's profits.
"In a representative democracy, elected officials are supposed to respond to the priorities and interests of the people," reads the report. "Trump's 'oligarchs' are billionaires who are influencing political decision-making in order to increase their wealth."
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After 'Heartless' ICE Refusal, Judge Orders Officials to Allow Mahmoud Khalil to See His Family
ICE and a private prison contractor had cited alleged "security concerns" when they refused to allow Khalil see his wife and newborn son.
May 21, 2025
U.S. District Judge Michael Farbiarz in New Jersey ruled Wednesday that immigration officials at a Louisiana detention facility must allow former Columbia University student organizer Mahmoud Khalil to see his family, after the authorities refused to grant Khalil's request on their own.
Farbiarz found, based on a court filing by Khalil's lawyers, that his wife, Noor Abdalla "is aware of certain facts that would be of assistance to counsel in their current habeas representation of the petitioner before this court."
"The court is inclined to issue an order today... to permit the petitioner, his wife, and the petitioner's lawyers to meet together tomorrow morning at the facility where the petitioner is held," Farbiarz wrote.
Khalil is scheduled to have an immigration hearing Thursday, which Abdalla and her newborn son flew to Louisiana from New York to attend.
The order did not state that a visit specifically for Khalil to spend time with his wife and son should be arranged.
Lawyers with the Center for Constitutional Rights, the ACLU, and other groups helping to represent Khalil in his habeas corpus case had submitted a filing with Farbiarz Wednesday, asking him to require LaSalle Detention Center in Jena, Louisiana to allow Khalil to visit with his family for at least two hours—exactly a month after Immigration and Customs Enforcement (ICE) refused to allow him to be present for his son's birth—or "at minimum," allow Abdalla to join a contact visit with Khalil's legal team.
"Petitioner's counsel have made repeated requests for a contact visit to occur," wrote the lawyers. "Such a visit is necessary for the most elementary human reasons and given the ongoing strain of his pending habeas corpus petition, the visit is critical to ensure Mr. Khalil, who is an active participant in his legal case, can meaningfully contribute to the proceedings before this court."
The request was rejected on Wednesday morning after Abdalla and her baby had flown more than 1,400 miles for the hearing.
Along with the private prison contractor that runs the facility, GEO Group, ICE had cited "security concerns" when refusing to allow Khalil to see his family.
"The facility's refusal contradicts ICE's own directives, including ICE Directive 11064.3, which affirms the importance of minimizing disruptions to family life and preserving parental rights," said the ACLU in a statement. "The Performance-Based National Detention Standards also explicitly encourage contact visits, especially where young children and long travel distances are involved."
Abdalla said she was "furious at the cruelty and inhumanity of this system that dares to call itself just."
"After flying over a thousand miles to Louisiana with our newborn son, his very first flight, all so his father could finally hold him in his arms, ICE has denied us even this most basic human right," said Abdalla. "This is not just heartless. It is deliberate violence, the calculated cruelty of a government that tears families apart without remorse. And I cannot ignore the echoes of this pain in the stories of Palestinian families, torn apart by Israeli military prisons and bombs, denied dignity, denied life. Our struggle is not isolated. This system is unjust, and we will fight until Mahmoud is home."
Abdalla, a U.S. citizen, was eight months pregnant when immigration agents accosted her and Khalil in March outside their apartment on Columbia's campus and took him away in an unmarked vehicle. He was informed that his green card had been revoked and was taken first to a detention center in New Jersey and then flown to Louisiana, where an immigration judge later ruled that the Trump administration's deportation case against him could go forward. That ruling was handed down despite Secretary of State Marco Rubio's admission that Khalil is not accused of breaking any laws and that he was targeted because his advocacy for Palestinian rights was seen as detrimental to U.S. foreign policy interests.
"The government chose to arrest and detain Mahmoud thousands of miles away in the Louisiana detention gulags to punish him for his support for Palestinian human rights, and is doubling down on their retaliatory punishment by denying him the most elementary human contact with his wife and child," said Baher Azmy, legal director of the Center for Constitutional Rights. "ICE leadership and elected officials must act to remedy this grotesque and unnecessary inhumanity for Mahmoud—and for all others."
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'This Is Not Normal': Newark Mayor Ras Baraka Arrested at Contested ICE Detention Facility
"They are arresting elected officials for peacefully opposing the regime's illegal actions."
May 09, 2025
Democratic Newark Mayor Ras Baraka was arrested Friday afternoon at a newly reopened immigrant detention facility in New Jersey's largest city.
Baraka was accompanying three of the state's congressional Democrats to Delaney Hall, an Immigration and Customs Enforcement (ICE) facility operated by the private prison company the GEO Group.
The 1,196-bed facility—the first immigrant detention center to open since U.S. President Donald Trump returned to office in January after campaigning on mass deportations—began housing detainees on May 1, despite an ongoing legal battle over its operation.
Video footage posted online shows a verbal altercation between Baraka—who is running for governor and has been critical of ICE action under Trump—and men in blue jackets labeled "police."
According to PIX11:
Witnesses said the arrest came after Baraka attempted to join a scheduled tour of the facility with three members of New Jersey's congressional delegation, Reps. Robert Menendez, LaMonica McIver, and Bonnie Watson Coleman.
When federal officials blocked his entry, a heated argument broke out, according to Viri Martinez, an activist with the New Jersey Alliance for Immigrant Justice. It continued even after Baraka returned to the public side of the gates.
"There was yelling and pushing," Martinez said. "Then the officers swarmed Baraka. They threw one of the organizers to the ground. They put Baraka handcuffs and put him in an unmarked car."
Amanda Lee, a journalist with New Jersey's News 12, posted footage of the crowd near the gate and the mayor being led away in handcuffs.
Alina Habba, the interim U.S. attorney for the District of New Jersey,
said on social media that Baraka "committed trespass and ignored multiple warnings from Homeland Security Investigations to remove himself from the ICE detention center in Newark, New Jersey this afternoon. He has willingly chosen to disregard the law. That will not stand in this state. He has been taken into custody. NO ONE IS ABOVE THE LAW."
Baraka's office told PIX11 that the mayor was taken to an ICE field office at 620 Frelinghuysen Ave. in Newark, adding that "we are actively monitoring and will provide more details as they become available."
The members of Congress explained on social media that they were at the facility to conduct oversight. As Watson Coleman put it: "We're at Delaney Hall, an ICE prison in Newark that opened without permission from the city and in violation of local ordinances. We've heard stories of what it's like in other ICE prisons. We're exercising our oversight authority to see for ourselves."
The U.S. Department of Homeland Security (DHS) released a statement that did not address Baraka's arrested but said that "as a bus of detainees was entering the security gate of Delaney Hall Detention Center, a group of protestors, including two members of the U.S. House of Representatives, stormed the gate and broke into the detention facility," naming Menendez and Watson Coleman.
DHS Assistant Secretary Tricia McLaughlin said that "members of Congress storming into a detention facility goes beyond a bizarre political stunt and puts the safety of our law enforcement agents and detainees at risk. Members of Congress are not above the law and cannot illegally break into detention facilities. Had these members requested a tour, we would have facilitated a tour of the facility. This is an evolving situation."
The department also claimed that "the allegations made by Newark politicians that Delaney does not have the proper permitting are false. We have valid permits, and inspections for plumbing and electricity, and fire codes have been cleared."
Watson Coleman shared a lengthy response on social media, saying in part: "Contrary to a press statement put out by DHS we did not 'storm' the detention center. The author of that press release was so unfamiliar with the facts on the ground that they didn't even correctly count the number of representatives present. We were exercising our legal oversight function as we have done at the Elizabeth Detention Center without incident."
Responding to the news of Baraka's arrest on social media Friday, Kat Abughazaleh, a Democratic congressional candidate in Illinois, said in all caps: "They are arresting elected officials for peacefully opposing the regime's illegal actions. Do not allow them to overwhelm you. This is not normal."
I am outraged by the unjust arrest of Newark Mayor Ras Baraka earlier this afternoon outside of Delaney Hall in Newark. I am calling for his immediate release by federal law enforcement.
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— Governor Phil Murphy (@govmurphy.bsky.social) May 9, 2025 at 4:30 PM
Maurice Mitchell, national director of the Working Families Party, said in a statement that "Mayor Baraka's arrest during an oversight visit to an ICE facility in Newark is shocking overreach of power, even by Trump standards."
"Trump and his cronies are pulling straight from the authoritarian playbook. They want to silence anyone who seeks to hold them accountable," he added. "Mayor Baraka must be released immediately, and New Jersey elected officials must be allowed inside the Delaney Hall ICE facility."
ACLU of New Jersey executive director Amol Sinha similarly condemned Baraka's arrest as "a shameful escalation of the Trump administration's intimidation campaign against officials who refuse to do their bidding."
"Mayor Baraka—and lawmakers across New Jersey and the country—are being targeted by the Trump administration for refusing to be complicit with its ongoing violations of due process," said Sinha. "Mayor Baraka must be immediately released from custody, and the Trump administration must end its assault on the fundamental rights at the core of our democracy."
The group Indivisible declared his arrest "a warning sign of just how far Trump and his allies are willing to go to silence dissent," and "authoritarian behavior, plain and simple."
"For months, Trump has been using ICE as a political weapon, targeting immigrants, communities of color, and students exercising their right to free speech," Indivisible noted. "Now, it's being used to intimidate elected officials who dare to speak out. That should alarm everyone."
"Mayor Baraka was peacefully demanding answers on dangerous policies that hurt his community. He was being a leader. We demand the immediate release of Mayor Baraka, and an end to these unlawful and unconstitutional detainments. We won't be intimidated or silenced," the group added. "We stand with Mayor Baraka and every brave leader who refuses to back down, and call on every other elected leader to follow his courageous example."
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