What is it when only a few people have power?

When only a few people have power, it is often referred to as an oligarchy. In an oligarchic system, decision-making authority is concentrated in the hands of a small group, which may be based on wealth, family ties, corporate interests, or other forms of influence. This concentration of power can lead to a lack of representation for the broader population and may result in policies that benefit the elite rather than the general public.