An elite in political and sociological theory, is a small group of people who control a disproportionate amount of wealth or political power.

Mills wrote in his 1957 book The Power Elite that the "elite" are "those political, economic, and military circles, which as an intricate set of overlapping small but dominant groups share decisions having at least national consequences. Insofar as national events are decided, the power elite are those who decide them."

According to Mills, the governing elite in the US primarily draws its members from three areas: (i) the highest political leaders (including the president) and a handful of key cabinet members and close advisers; (ii) major corporate owners and directors; and (iii) high ranking military officers. These groups overlap, and elites tend to circulate from one sector to another, consolidating power as they do so.

Unlike the ruling class, a social formation based on heritage and social ties, the power elite is characterized by the organizational structure through which its wealth is acquired. According to Mills, part of the power elite is "the managerial reorganization of the propertied classes into the more or less unified stratum of the corporate rich." Domhoff further clarified the differences in the two terms: "The upper class as a whole does not do the ruling. Instead, class rule is manifested through the activities of a wide variety of organizations and institutions... Leaders within the upper class join with high-level employees in the organizations they control to make up what will be called the power elite."

Aaron Russo (February 14, 1943 - August 24, 2007) was an American entertainment businessman, film producer and director, and political activist. He was best known for producing such movies as Trading Places, Wise Guys, and The Rose. Later in life, he created various Libertarian-leaning political documentaries including Mad as Hell and America: Freedom to Fascism. After a six-year battle with bladder cancer, Russo died on August 24, 2007.

Aaron Russo was born in Brooklyn, New York, in 1943. Growing up on Long Island, Russo worked for his family's undergarment business.

In April 1968, Russo opened the nightclub Kinetic Playground in Chicago, Illinois, originally naming it the Electric Theater. He booked numerous prominent rock groups and musicians at the club such as The Grateful Dead, Iron Butterfly, Jefferson Airplane, Janis Joplin, Led Zeppelin, Rotary Connection, and The Who.

In addition to owning his own nightclub, Russo managed several musical acts throughout the 1970s including The Manhattan Transfer and Bette Midler.