So it's a kakistocratic plutocracy.

A kakistocracy (/kækɪˈstɒkrəsi) is a system of government that is run by the worst, least qualified, and/or most unscrupulous citizens.

A plutocracy (Greek: πλοῦτος, ploutos, 'wealth' + κράτος, kratos, 'power') or plutarchy is a society that is ruled or controlled by people of great wealth or income. Unlike systems such as democracy, liberalism, socialism, communism or anarchism, plutocracy is not rooted in an established political philosophy.