If anyone hoped that this crisis would lead to the richer of the richest, we have bad news for him. US billionaires’ assets have risen by a total of USD 434 billion since mid-March. Such data is based on the Americans for Tax Fairness (ATF) report. Significantly, the rich from the new technologies industry have gained the most.
The billionaires are benefiting from the crisis
This is exactly data for the period from March 18 to last Tuesday. Record holder for earnings is Amazon boss Jeff Bezos ($ 34.6 billion) and Facebook founder Mark Zuckerberg ($ 25 billion).
“Over the past two months, the billionaires’ assets have grown from a total of 2.948 trillion to 3.382 trillion dollars. The highest profits – 76 billion dollars – were recorded by the top five richest, in which Bezos and Zuckerberg are. One of the most impressive increases in percentage terms was noted by the executive director of Tesla Elon Musk – by 48 percent. “
– calculates bankier.pl.
The crisis also helps people who have never been billionaires get rich. Since mid-March – according to Forbes – the number of billionaires in the US has increased by 16 and now there are already 630.
However, so that it is not so rosy, it must be added that some billionaires lose. This applies to those who operate in the tourism industry and in retail trade.
It is worth investing in new technologies
However, the rise of billionaires’ assets also shows a very interesting phenomenon. It turns out a coronavirus pandemic “Has served the largest and most technology-oriented companies” – notes the CNBC television portal. At the same time “Workforce faces the biggest economic crisis in modern history” – his journalists add.
Indeed, US unemployment has risen to 17.2 percent. This is a level that has not been recorded in this power since the Great Depression in 1929-1933.
“The pandemic has shown the lethal consequences of growing property inequalities, and billionaires are a bright symbol of this inequality.”
– says Frank Clemente of Americans for Tax Fairness.
However, the above trend will not be changed by the policy of the Fed and the government, which is trying to save the situation by printing money and distributing it to citizens – both those who need it and those who could do without social.