Introduction
This documentary about billionaires aiming to overturn societal norms in favor of CEOs manages to be more entertaining than frightening, though it occasionally approaches the latter.
Wealth Disparity and Political Influence
Matt Shea’s documentary is framed by two stark realities. First, the combined wealth of the world’s 12 richest individuals equals that of the poorest 50% of humanity—a number that, while debatable, is undeniably alarmingly small. Second, in recent US election cycles, cryptocurrency has overtaken the fossil fuel industry as the largest political donor.
Throughout the hour, Shea explores how a new class of tech billionaires seeks to make a bold move. He illustrates that in traditional Western democracies, the principle of equal votes and equal accountability under the law is heavily undermined by a tiny wealthy minority. These plutocrats influence electoral outcomes by funding politicians, owning media outlets, and using their wealth to evade regulations. Yet, they remain frustrated by elections and the rule of law. What comes next?
Cryptocurrency and Its Players
Shea meets individuals who have amassed vast fortunes from cryptocurrency—a sector that promotes freedom and transparency but is known for resisting accountability. He observes Justin Sun, a Chinese tech entrepreneur with an estimated personal wealth of $8.5 billion, as he lists his crypto trading network Tron on Nasdaq. This is achieved not through the standard listing process but via a "reverse merger" with a failing company, effectively buying a listed business and renaming it Tron Inc.
This practice is legal and not particularly unusual. However, the documentary then shifts to a muddy peninsula in the Danube between Croatia and Serbia, claimed by crypto enthusiasts as Liberland—a self-declared "micronation" aspiring to be a high-tech utopia with no taxes and no regulatory red tape. Currently, it consists of a few tents frequently raided by Croatian police, who dispute the claim that the land is unowned.
Liberland and Its Leadership
Shea interviews the president of Liberland, Vit Jedlicka, who attempts unsuccessfully to control what his followers discuss with the filmmaker. One adherent escapes for a private conversation with Shea, struggling to defend Liberland’s electoral system, where purchasing more crypto "merits" grants greater voting power. This system restricts liberty to a select few. Notably, the elected prime minister of Liberland is Justin Sun.
Exploring Radical Ideas
At this point, Shea engages with eccentric figures, including writer Curtis Yarvin, who argues that democratic governments are inferior to corporate boards led by CEO "monarchs." The documentary becomes even more unconventional when Shea attends Token 2049 in Singapore, a conference for crypto enthusiasts who distrust governments and believe crypto is the future. There, a man adorned in bitcoin logos speaks of a "new world order" soon to establish a satanic global dominion.
Crypto Conference and Political Connections
Shea explores the crypto-themed exhibits, noting that one of the main sponsors is Tron. The keynote speaker is Donald Trump Jr., representing World Liberty Financial, a crypto company co-founded by the Trump family. The Trump family is estimated to have earned over $2 billion from various cryptocurrency ventures. Several World Liberty investors, including Justin Sun before a notable falling out with the Trumps, have benefited from favorable US government legal or regulatory decisions.
Trump has denied any connection between investments in his family’s companies and government decisions affecting those investors. His representative described such claims as
"the same, tired narrative that Democrats have pushed … for a decade. … There are no conflicts of interest."When Shea raises this issue with Sun, a PR adviser interrupts and shuts down the question.
Analysis of Crypto Billionaires’ Ambitions
Shea’s argument slightly weakens here. Replacing governments with digital hegemonies may appeal to crypto billionaires, who do not concern themselves with societal needs like reliable infrastructure or a healthy workforce, focusing instead on machines generating more wealth. However, taking over or establishing new countries is unnecessary at present, given that the Trump administration already provides frictionless paths to greater wealth.
Regardless, these developments are concerning and warrant monitoring, though likely from a position of limited influence. Wealth continues to concentrate, and the powerful persist in finding ways to increase it.
Tech Billionaire Takeover aired on BBC Two and is available on .
