Billionaire Philosopher Kings: The Perils of Plato's Republic Reimagined by the Virtueless
By Michael Kelman Portney
In Plato’s The Republic, the idea of the "philosopher king" was presented as an ideal form of governance. Only the most virtuous, wise, and rigorously trained individuals—those who dedicated their entire lives to the pursuit of truth and justice—could ascend to the position of ruler. They were selfless, unimpeachably virtuous, and singularly devoted to the welfare of the state. Now, fast forward a few millennia, and you might notice an alarming trend among certain American billionaires. They seem to think they’ve earned the right to play philosopher king, not through decades of moral testing or the relentless pursuit of virtue, but because of their ability to disrupt markets and amass astronomical wealth. Peter Thiel for example has actually said the words Philosopher Kings out loud, and he was referring to himself and friends as ideal kings of society. Plato (or Socrates through Plato) disagree.
It’s a curious reinterpretation of Plato’s vision, one that swaps wisdom for market dominance and moral training for investment portfolios. Billionaires like Peter Thiel, Elon Musk, and Marc Andreessen, to name a few, exhibit behaviors that suggest they see themselves as de facto rulers of our modern republic—unelected philosopher kings who believe their intellectual and financial success qualifies them to reshape society in their image. But here’s the catch: Plato wouldn’t have let any of these guys near the throne.
Plato’s Republic: A High Bar for Leadership
Plato’s Republic didn’t hand over power to just anyone with a big bank account or a knack for strategy. Becoming a philosopher king required a lifetime of rigorous intellectual and ethical training. Aspirants would be tested continuously, with failures weeding out those who lacked the necessary virtue or wisdom. The result? Only the most selfless, morally upright, and wise individuals could govern. Power was not a reward for success in commerce or war; it was a burden entrusted only to those who had proven themselves worthy through relentless dedication to the greater good.
Contrast that with today’s billionaire class, where financial success is often conflated with moral superiority and intellectual insight. Peter Thiel, for example, champions monopolies and praises the "contrarian" mindset, positioning himself as a thought leader in business and politics. Yet, his actions—like funding alt-right provocateurs and undermining democratic norms—reveal a glaring mismatch between his self-perception and the philosopher king ideal.
Elon Musk, another self-styled visionary, has reshaped entire industries, from electric vehicles to space travel. Admirable? Sure. But is he a philosopher king? Hardly. Musk’s erratic behavior, penchant for controversy, and focus on personal vendettas hardly align with Plato’s standards of virtue and selflessness.
The Billionaire Problem: Virtue vs. Power
The problem with these modern philosopher king aspirants isn’t just that they lack Plato’s rigorous training. It’s that their accumulation of power often directly contradicts the very virtues that Plato required. Philosopher kings in Plato’s Republic were guardians of the state, not exploiters of it. They sought to uplift all citizens, not just their own power base. Billionaires, by contrast, often use their influence to shape policies and societies in ways that benefit their personal agendas.
Consider the stark contrast between Plato’s rulers, who avoided wealth to remain uncorrupted, and modern billionaires, whose power stems precisely from their ability to hoard it. In The Republic, philosopher kings would never conflate material success with virtue. Yet today’s billionaires seem to do just that, equating their ability to manipulate markets with the moral authority to lead nations.
Why Billionaires Fail Plato’s Test
Plato’s rigorous process of testing and training ensured that only those with an unwavering commitment to justice could govern. Billionaires, on the other hand, ascend to their thrones without any such vetting. Their success often involves exploiting loopholes, crushing competitors, and prioritizing profits over people. This is not a path that builds the character necessary to lead a society in the selfless manner Plato envisioned.
Worse still, many of these billionaires actively undermine the democratic norms that might hold them accountable. Thiel’s secretive funding of lawsuits to bankrupt critics like Gawker, or Musk’s erratic social media antics to manipulate public opinion, are behaviors that highlight how little regard they have for collective governance. They wield their wealth not as philosopher kings but as unchecked autocrats, shaping the world to serve their own interests.
Conclusion: Beware the False Philosopher Kings
Plato’s vision of philosopher kings was never about power for its own sake. It was about stewardship—leadership grounded in wisdom, virtue, and a lifelong commitment to justice. Today’s billionaires may fancy themselves as modern philosopher kings, but they lack the moral foundation and rigorous training that Plato demanded.
The danger isn’t just that they misunderstand Plato’s ideal; it’s that they subvert it entirely, using their wealth and influence to impose their will without accountability. In doing so, they transform the philosopher king from a guardian of the people into a tyrant in a gilded palace. And if we’re not careful, they’ll keep remaking the world in their own image—an image that looks nothing like Plato’s Republic.
