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Democracy is in “crisis,” with fascist dictatorships and mafia-type states on the rise, a situation that won’t be alleviated by President-elect Donald Trump. That’s the warning from billionaire investor George Soros in a Project Syndicate opinion piece published Wednesday. The reason the world has found itself in this situation is that leaders have failed their electorates, with a significant proportion of the latter having reached the conclusion that “elites had stolen their democracy,” Soros said, adding that the phenomenon has played out over 2016 through events such as Brexit and, of course, the U.S. presidential election.

The 86-year-old, Hungarian-born Soros has made no secret of the fact he was not on the Trump train. Last month, he reportedly gathered big-money liberals in Washington for a three-day conference, covering such subjects as resisting Trump’s 100-day plan and getting more Democrats elected in 2017 and 2018.

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