The outgoing president made his final public address from the White House's Oval Office this week, and he used his speech to discuss misinformation and "an oligarchy" in the US.

He said: "Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead.”

The 82-year-old politician referenced warnings from President Dwight Eisenhower about a "disastrous rise of misplaced power" in the military-industrial complex".

Biden added: "Six decades later, I’m equally concerned about the potential rise of a tech industrial complex that could pose real dangers for our country as well."

Although he praised US tech leadership for changing people's lives for the better and continuing to innovation, he still voiced concerns.

He said "a dangerous concentration of power in the hands of a very few ultra-wealthy people" could have concerning implications "if their abuse of power is left unchecked".

He continued: "Americans are being buried under an avalanche of misinformation and disinformation enabling the abuse of power.

“The free press is crumbling. Editors are disappearing.

"Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit.”

Biden didn't name anyone specifically in his address.

In recent weeks, X chief Elon Musk - a vocal supporter of President-elect Donald Trump - has a leadership role in the incoming administration.

And Meta boss Mark Zuckerberg - whose company owns the likes of Facebook, Instagram and Threads - recently confirmed his company is ditching third-party fact-checking across its platforms in the States.