Oligarchy is a small group of people who exercise control over a country, business, etc.
oligarchy
plural oligarchies
: government by the few
The corporation is ruled by oligarchy.
: a government in which a small group exercises control especially for corrupt and selfish purposes
a military oligarchy was established in the country
: a group exercising such control
An oligarchy ruled the nation.
: an organization under oligarchic control
That country is an oligarchy.
Oligarchy is one of numerous English words for a type of rule or government. Some of these words, such as plutocracy, have an exceedingly similar meaning (both may be used to refer to rule by an economic elite, but oligarchy often has the additional connotation of corruption). Besides these two, we have meritocracy “a system in which the talented are chosen and moved ahead on the basis of their achievement,” monarchy “a form of government in which a country is ruled by a king or queen,” ochlocracy “government by the mob," and gerontocracy “rule by elders,” among many others.
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