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What's the word for a government run by the wealthy?

The word you're looking for

A plutocracy is a government in which the rich or wealthy have power. It fits your description very well, and it is the standard term for rule by wealth.

Other words that fit

Use this when power is held by a small group, not only the wealthy.

This is a rarer word with a similar meaning, but it is less common than plutocracy.

aristocracy (opens in new tab) /ˌærɪˈstɒkrəsi/

Use this if you mean rule by a high class or noble group, not just the rich.

Why this word

The best word for a government run by the wealthy is plutocracy. It means power belongs to rich people, or to a system strongly controlled by money. People sometimes confuse it with oligarchy, but oligarchy is broader and means rule by a small group. Aristocracy is different too, because it usually refers to nobles or upper-class families. If you want the clearest word for wealth-based rule, plutocracy is the best choice.

In context

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Frequently asked questions

Is plutocracy the same as oligarchy?
Not exactly. Oligarchy means rule by a small group, while plutocracy means rule by the wealthy.
Is plutocracy a formal or informal word?
It is a formal word, and it is common in politics and news writing.
Can plutocracy describe a society, not just a government?
Yes. People often use it for a political system or a society dominated by rich people.