OLIGARCHY
oligarchy
(noun) a political system governed by a few people; “one of his cardinal convictions was that Britain was not run as a democracy but as an oligarchy”; “the big cities were notoriously in the hands of the oligarchy of local businessmen”
Source: WordNet® 3.1
Etymology
Noun
oligarchy (plural oligarchies)
A government run by only a few, often the wealthy.
Those who make up an oligarchic government.
A state ruled by such a government.
Source: Wiktionary
Ol"i*gar"chy, n.; pl. Oligarchies. Etym: [Gr. oligarchie.]
Definition: A form of government in which the supreme power is placed in
the hands of a few persons; also, those who form the ruling few.
All oligarchies, wherein a few men domineer, do what they list.
Burton.
Source: Webster’s Unabridged Dictionary 1913 Edition