Eli5 could someone please explain to me what an oligarch is. Is it the individual equivalent of a cartel?

Question

Thanks

In: 4

Answer 1

An oligarch is a (usually) rich person with political power, a member of an oligarchy.

Monarchy = rule by one
Oligarchy = rule by the few
Patriarchy = rule by men
Matriarch = rule by women
Tetrarchy = rule by four
Anarchy = rule by nobody

I don’t think it’s quite the same as a cartel, as cartels are mostly about manipulating markets and you don’t necessarily need political power for that.