Stephen Colbert’s 2025 was a year of upheaval and revelation, culminating in a blunt lesson: “Don’t trust billionaires.” As ‘The Late Show’ nears its final bow, Colbert’s reflections on power, politics, and his own legacy offer a raw look at the forces reshaping late-night TV—and America itself.
In a year that saw Stephen Colbert navigate the cancellation of his decade-long late-night reign, the comedian distilled 2025 into a single, biting lesson: “Don’t trust billionaires.” The remark, delivered during CNN’s New Year’s Eve broadcast with Andy Cohen and Anderson Cooper, wasn’t just a quip—it was a culmination of Colbert’s evolving critique of wealth, power, and the media landscape that shaped his career.
The Lesson Behind the Laughter
Colbert’s lesson wasn’t pulled from thin air. Months earlier, in April 2025, he and Alan Cumming performed a parody song on The Late Show titled “Billionaires Are Actually Good,” a satirical jab at the ultra-rich’s influence on politics and culture. The lyrics—“Shut up, buy their self-driving cars / And if you’re lucky, you’ll be their slave on Mars”—mirrored Colbert’s long-standing skepticism of unchecked wealth, a theme that resonated deeply as the show’s cancellation loomed.
“All these billionaires are having an outsized impact on our politics these days,” Colbert remarked during the segment, highlighting the disconnect between the elite and everyday Americans. His critique extended beyond politics, questioning why the wealthy crave “political power and rocket launches” while the public grapples with economic disparity. The song, he suggested, was a way to “fill an emotional void”—both for the billionaires and the audience laughing at them.
(Photo by Michael Buckner/Variety via Getty Images)
The Cancellation and Its Aftermath
Two months after the parody, Colbert announced that The Late Show would end in May 2026, a decision made by CBS despite the show’s ratings dominance. “I share your feelings,” he told the audience, acknowledging the frustration. “It’s not just the end of our show, but it’s the end of The Late Show on CBS. I’m not being replaced. This is all just going away.”
The cancellation sparked industry-wide debate. In a joint statement, CBS executives George Cheeks, Amy Reisenbach, and David Staph called Colbert “irreplaceable,” retiring the franchise entirely. Colbert later told GQ that while he loved the show, he felt a “sense of relief” at its end. “You can only do the jokes every night, year after year for 20 years, if you give a damn about what you’re talking about,” he said. “But there is a sense of relief that I might not have to put on the snorkel and get into the sewer every day.”
Why It Matters: Colbert’s Legacy and the Future of Late-Night
Colbert’s 2025 lesson—“Don’t trust billionaires”—is more than a punchline. It reflects a broader cultural reckoning with wealth inequality and media consolidation, themes he championed throughout his tenure. His departure leaves a void in late-night TV, where his blend of satire and sincerity set him apart. As the industry evolves, Colbert’s exit raises questions about the future of political comedy in an era dominated by corporate interests.
For fans, Colbert’s reflection offers a rare glimpse into the mind of a comedian who used his platform to challenge power. His lesson isn’t just about billionaires; it’s about the importance of holding institutions accountable, even as the landscape shifts beneath them.
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