oligarchy

noun, plural ol·i·gar·chies.

1. a form of government in which all power is vested in a few persons or in a dominant class or clique; government by the few.
2. a state or organization so ruled.
3. the persons or class so ruling.

noun plural -chies

1. government by a small group of people
2. a state or organization so governed
3. a small body of individuals ruling such a state
4. mainly US a small clique of private citizens who exert a strong influence on government

n.1570s, from Middle French oligarchie (14c.), from Greek oligarkhia “government by the few,” from stem of oligos “few, small, little” (see oligo-) + arkhein “to rule” (see archon). A system of government in which power is held by a small group.