Definitions

1. noun

A small group of people having control of a country, organization, or other group.

“The government is accused of being an oligarchy, with a few wealthy individuals holding all the power.”

2. noun

A system of government in which power is held by a small group of people, often the wealthy or well-born.

“The country has a long history of oligarchy, with power shifting between different families and groups over the centuries.”