Analysis contests claim that US billionaires got richer during COVID-19

Analysis contests claim that US billionaires got richer during COVID-19

While a new report touts that the net worth of US billionaires has increased by $434 B during the pandemic, an analysis by MarketWatch has revealed otherwise. For a start, the period of study has been March 18 and May 19. Instead MarketWatch studied the net worth from the Feb. 19 peak in the market till Tues. this week. Cumulatively, the top 50 billionaires lost $232 billion during this time.

Fareem
Fareem
Liam
Liam 1 weeks

Except this wasn't "reports", it was one horribly misleading study by a left-leaning think tank parroted by journalists (read the MarketWatch article linked above).

Stephen
Stephen 1 weeks

When the government closes all your competitors for people's business, yes, your value goes up. That's how a monopoly works. Why does no one get this?

Dale
Dale 1 weeks

CNBC report is wrong. A more long term detailed study by MarketWatch shows these same people losing over $200 Billion from February 19 through May 22.

Jack
Jack 1 weeks

Never let a crisis go to waste.. Thanks Plutocrats.

Steeve
Steeve 1 weeks

Alongside many shareholders and pension funds 🙂

tenoclock
tenoclock 1 weeks

Because you weren't allowed to go anywhere else.

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