Racism is not bipartisan. It is a system instituted to keep the descendants of plantation owners who are legally classified as white in power.
There is no such thing as “old money” in the United States. It is a replacement word for “plantation money.”
The 1% that people so idolize are sending their children to 40k a year private schools on inherited wealth from their family money from plantations. They then graduate from Dalton, Yale , Harvard or any other influential Primary to Ivy you can point to. Then they get jobs in government, media, publishing and or the flourishing arts. This is the truth and this is American society.
This is different from English or Europeans who are in positions of power based on the ability to trace their lineage back to the conquerers. In that case it is people who are all likely classified as white using a different classification to maintain power.