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US billionaires have added $1 trillion to collective wealth since pandemic began

US billionaires have added $1 trillion to collective wealth since pandemic began

The wealth of billionaires in the United States has increased by $1 trillion according to data collected by Chuck Collins at the Institute for Policy Studies. The research has shown that these billionaires have not only been insulated from the economic downturn but rather have thrived during the pandemic. Their wealth increased by about 34% since the month of March this year.

Josh
Josh
Shakespeare
Shakespeare 2 months

I wonder when people will start to realize that the tactics to combat the virus have only helped transfer weath to the very rich from the poor. And have done nothing to stop the spread.🤔

Eclipse
Eclipse 2 months

The lockdown only benefits large corporations. The small mom and pop shops are the most at risk, and it's beginning to feel rather intentional.

Seekster
Seekster 2 months

So? Wealth is not a finite resource...we can generate more of it by creating new industries and jobs and products. This is why I am glad that a traditional entrepreneur like Elon Musk, who earned his wealth rather than inheriting it, is now the 2nd richest man on Earth.

Noah PaulOG
Noah PaulOG 2 months

Anyone still believe that the party supported by the wealthiest people in the history of the world is interested in a more fair redistribution if wealth?

IvoryDove
IvoryDove 2 months

Ironic how many of these billionaires are supporting the Democrats and their move towards socialism.... At least it appears so until your acknowledge that there is always a wealthy/powerful elite that wants to use the power of government to achieve their end goals. The solution our founders sought was to make government too weak and divided to help the powerful elites. But, many decades of progressive strategy, SCOTUS appointments, activist rulings and creeping socialism have us at the doorstep of totalitarian rule.

Rocky
Rocky 2 months

Sadly the rest of us lost money we need to get back our unions ban buy backs and create a social democracy

C
C 2 months

If we take the total wealth of ALL american billionaires wealth $3,956,200,000,000 and divided it up equally to all 350,000,000 Americans each person gets $11,303 . Think about this FACT Wow, I make that working hard in a few months. Let's try working hard and being responsible with our money.

snarley
snarley 2 months

That's what happens when the residing POTUS passes every law possible to avoid these people from paying taxes or being held accountable.

ToddBundy
ToddBundy 2 months

Trumps BiG tax cut plan exclusively benefited billionaires. This is no surprise. People like Ivory wanna accuse these people of conspiring against democracy but the billionaires are the one who have benefited the most from his presidency. If you think that Bezos wants to take Trump out of office so he can pay higher taxes under a socialist regime, your drinking too much kool aid. This article is just more proof that Trump lost this election, not because Biden is gonna be a better president but because he was the only other option and thats still better than Trump.

Corey Worthington
Corey Worthington 2 months

When you have people who have gamed the system this is what happens..no one should be surprised these Billionaires are immune from going bust..the government steps in and pours Trillions into the stock exchange when it's in free fall..they have a sure bet at the Casino table...while you get cleaned out...

unionnet27
unionnet27 2 months

Sickening...

Donald
Donald 2 months

Great Reset is locked and loaded. Fema camps built. No where to run except rural lands and barter communities

V!!!!!
V!!!!! 2 months

Wow, while everyone else bends do to get screwed.

Otis B Driftwood
Otis B Driftwood 2 months

This isn't even real money. This is the largely just the value of their stock holdings going up. Investors believe that Amazon is making more money, so they are driving the price of the stock up. Since Bezos owns a lot of it, his apparent wealth grows. It is not as if there is a money chute that leads into his basement. He's not taking my wealth to get richer. Amazon doesn't even pay a dividend.

Meyer
Meyer 2 months

For those who really are serious about learning why this happened watch Jordan Peterson explain it. Here's the link https://youtu.be/U4GMUamUjT8

John W
John W 2 months

1/3 of all New Jersey businesses closed permanently after democrat lock downs. https://youtu.be/kJfB4DOgxy4 https://thehill.com/homenews/state-watch/527901-almost-one-third-of-small-businesses-in-new-jersey-have-have-closed

ben
ben 2 months

The color of money, baby!

Khalid
Khalid 2 months

So at least a third of the massive money from the federal government pandemic relief we all borrowed to help each other has gone to enrich the less than 1% who least needed this help?? Something is wrong with this picture——

Captain D’s nuts
Captain D’s nuts 2 months

And it’s all going back to things like Amazon and Walmart. Go to family owned small businesses while they are still around because they won’t be for long.

Brutus
Brutus 2 months

It’s almost like the wealthy/large business profit while the average person/small businesses get destroyed because of the lockdowns. I will say a significant amount of the wealth gained by the wealthy isn’t liquid wealth (stocks and such) which will may only be temporary gains, but the wealth lost by the average person/small business was liquid wealth a combination of wages and goods which are permanent losses.

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