Matt Shea's documentary The Tech Billionaire Takeover examines how a new wave of tech billionaires, enriched by cryptocurrency, are attempting to reshape society to favor their interests over democratic principles. The film is bookended by two stark facts: the combined wealth of the world's 12 richest people equals that of the poorest 50% of humanity, and cryptocurrency has overtaken the fossil fuel industry as the largest political donor in recent US elections.
Cryptocurrency and Political Influence
Shea meets individuals who have amassed vast fortunes from cryptocurrency, a sector that champions freedom and transparency but often resists accountability. He observes Justin Sun, a Chinese tech entrepreneur with a personal wealth of approximately $8.5 billion, as he lists his crypto trading network Tron on Nasdaq through a reverse merger—a legal but unconventional method. The documentary also visits Liberland, a micronation claimed by crypto enthusiasts on a disputed peninsula in the Danube, where residents aim to create a tax-free, regulation-free utopia. However, the site currently consists of a few tents regularly raided by Croatian police.
Liberland and Its Electoral System
Shea interviews Liberland's president, Vit Jedlicka, and encounters a supporter who struggles to justify the micronation's electoral system, where purchasing more crypto "merits" grants additional voting power. The elected prime minister of Liberland is Justin Sun. The film also features Curtis Yarvin, a writer who advocates for replacing democratic governments with corporate boards led by CEO "monarchs."
Token 2049 Conference and Trump Family Ties
At the Token 2049 conference in Singapore, Shea encounters attendees who believe crypto is the future and distrust governments. One man, covered in bitcoin logos, rambles about an imminent "new world order" involving satanic global dominion. The event's main sponsor is Tron, and the keynote speaker is Donald Trump Jr., representing World Liberty Financial, a crypto company co-founded by the Trump family. The Trumps are estimated to have made over $2 billion from cryptocurrency ventures. Several investors in World Liberty, including Justin Sun before a falling out, have subsequently benefited from favorable US government decisions. Trump has denied any link between investments and government actions, with a representative calling the allegations "the same tired narrative that Democrats have pushed."
Critique of the Documentary's Thesis
Shea's thesis—that crypto billionaires seek to replace governments with digital hegemonies—falters slightly, as the current US administration under Trump already offers frictionless routes to greater wealth, making the formation of new governments unnecessary. Nonetheless, the documentary highlights the ongoing concentration of wealth and power, with the rich finding new ways to influence society. The Tech Billionaire Takeover aired on BBC Two and is available on iPlayer.
