Quantcast

Pandemic Profiteers: Billionaires Including Jeff Bezos Get Billions Richer

(Daily Mail) American billionaires are enjoying multi-million dollar increases to their net worth as the country’s unemployment levels rise to record highs amid the coronavirus lockdowns

Eight ‘pandemic profiteers’ have seen their net worth surge by over $1billion each since the start of the global pandemic.  

Amazon founder Jeff Bezos, 56, has added $25billion to his own wealth since January 1, 2020, as the company’s staff protest their poor working conditions and he makes a return to the company’s day-to-day running.

After initially calling the coronavirus pandemic ‘dumb’, Tesla and SpaceX founder Elon Musk has also increased his net worth by $5billion despite the economic downturn

According to a report from the Institute for Policy Studies, American billionaires added $282 billion – nearly a ten percent increase – to their combined wealth between March 18 and April 10, as the U.S. unemployment rate approached 15 percent. 

The United States billionaire class now have a combined net worth of $3.229 trillion. 

The report was released Thursday, the same day U.S. Labor Department figures revealed that 4.4 million Americans filed a claim for unemployment benefit last week.

About one in six American workers have now lost their jobs since mid-March, by far the largest streak of US job losses on record.

[Read more…]


TRENDING NOW

Trump Expands Ban on Federal Money for ‘Divisive’ Diversity Training

(Associated Press) President Donald Trump on Tuesday issued an order that he said will expand a ban on the use of federal...

Seattle Pays Ex-Pimp $150K to Offer ‘Alternatives to Policing’

(New York Post) Seattle now has on its payroll a convicted pimp who once vowed to “go to war” with the city...

Mars Drops Uncle Ben’s, Reveals New Name for Rice Brand

(Associated Press) Parent firm Mars Inc. unveiled the change Wednesday for the 70-year-old brand, the latest company to drop a logo criticized...

Feds: Fraudster Blew $30K in Vegas with Virus Loan Money

(Associated Press) A convicted bank robber from Rhode Island fraudulently obtained $600,000 in forgivable federal business loans and spent $30,000 in Las...

Powell and Mnuchin Back More Economic Aid

(Associated Press) Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding...