The nature and characteristics of populism is in debate , but there is hardly any debate on several features. One is that populist movements seek to represent 'the people' against 'elites' . In consequence one should assume that it constitutes a reaction against 'fat cats ' and corruption , however perceived. A second feature is that some of the populist movements and especially regimes are led by rich elites and could be numbered among the most corrupt regimes. In both regards, Trump of the USA is not unique. The question , of course, is how does one explain and conceptualize the connection between the two , and what does it tell us about such movements as well as the challenge to liberal democracy that they offer.