The Bum Bum Galaxy was controlled by MightyTech, who wanted even more power. It is a massive galaxy that wars too much and so it loses people to fast it has good Armour such as the Carbonox Armour. It is extremely rich because it blackmails galaxies for more power and more money.

Ratchet & Clank wiki
For those without comedic tastes, the so-called experts at the Ratchet & Clank wiki have an article about Bogon.