Democracy for sale to the higest bidder

The present siting Mayor of our largest city used his power , money and inluence to get a long standing 8 year term limit changed to 12 years .
The he went to work on his re-election - so far spending 250 million of his own 18 billion fortune- it a national if not world historic record .
With this he is able to crush and humiliate anyone who dares oppose him in November .

It is clear that another 4 years in this high profile position keeps him in the public eye so that he can make an attempt to buy the Presidency .

Does this seem right to anybody -- I'd like to know ???