Sen. Elizabeth Warren (D-Mass.) warned that growing corporate consolidation is giving a small group of powerful companies and CEOs outsized influence over Americans’ everyday choices, urging regulators to block mega-mergers.
Warren Targets Corporate Consolidation
On Saturday, in a post on X, Warren argued that corporate concentration extends far beyond business and affects major aspects of consumers’ lives.
"When a handful of companies control the economy, a handful of CEOs dictate what you watch on TV, which doctor you’re allowed to see, what you eat, whether predators get online access to your kids, and what apartment you can rent," Warren said.
She added, "That’s exactly why we need to block mega-mergers."
Corporate Power Faces Growing Scrutiny
Earlier, Warren and Mark Cuban criticized the U.S. healthcare system for rising costs, corporate consolidation and incentives that burden patients and employers.
Warren cited UnitedHealth Group Inc. (NYSE:UNH) and CVS Health Corp (NYSE:CVS) as examples of vertical integration and backed the bipartisan Patients Before Monopolies Act, which would prohibit common ownership of pharmacy benefit managers and pharmacies.
Supporters said the bill could increase competition and lower drug prices.
Cuban said high deductibles and healthcare costs of about $30,000 annually for employers were creating financial pressure and affecting business decisions.
He accused large healthcare companies of exploiting industry rules and argued that breaking up vertically integrated firms could improve competition and efficiency.
Calls Grow to Curb Big Tech Power
New York City Mayor Zohran Mamdani appointed former FTC Chair Lina Khan as chair of the New York City Economic Development Corporation’s board.
Khan said the agency could help make New York’s economy more affordable, efficient and resilient.
Meanwhile, Rep. Alexandria Ocasio-Cortez renewed calls to break up major technology companies such as Apple, arguing that Big Tech has gained too much power and needs stronger consumer protections.
Her comments came as AI-related semiconductor shortages threatened to raise component costs, with Apple warning that higher expenses could push up prices for iPhones, Macs and other products.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Sheila Fitzgerald / Shutterstock.com
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