While the majority of Americans are suffering, can't put food on the table, pay their bills & suffering economic hardship...American billionaires got $434 billion richer during the pandemic!
RUZuck, Bezos & Musk just got richer!
cnbc.com/2020/05/21/ame…
U.S. billionaires saw their fortunes soar by $434 billion during the nation’s lockdown between mid-March and mid-May, according to a new report.
Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the biggest gains.
Bezos added $34.6 billion to his wealth and Zuckerberg picked up $25 billion.
Folks need to quit blaming poor people, Black people, women & immigrants for their lack thereof...
#GOPTaxScam is working for them too! Less taxes to pay on the billions they've earned!
According to the report, the net worth of America’s billionaires grew 15% during the two-month period, to $3.382 trillion from $2.948 trillion. The biggest gains were at the top of the billionaire pyramid, with the richest five billionaires --
Bezos, Bill Gates, Zuckerberg, Warren Buffett, and Larry Ellison -- seeing combined wealth gains of $76 billion.
Elon Musk had among the largest percentage gain of billionaires during the two months, seeing his net worth jump by 48% in the two months to $36 billion. Zuckerberg was close behind, seeing his wealth surge by 46% in the two months, to $80 billion.
Bezos’ wealth increased by 31% to $147 billion. Bezos’ ex-wife, MacKenzie Bezos, who received Amazon shares in their divorce, also saw her wealth increase by a third, to $48 billion
Because the study timeline captures the stock market bottom and quick rebound, it creates a slightly sunnier picture for billionaires than the full year. For the year, Buffett’s wealth has declined by $20 billion, according to the Bloomberg Billionaire’s Index,
while Gates is down by $4.3 billion. For the year, Jeff Bezos has gained $35.5 billion while Zuckerberg is up by $9 billion.
here were some losers during the two-month period, especially for billionaires in the travel, hospitality or retail business who have yet to see their stocks and companies recover. Ralph Lauren saw his wealth drop by $100 million to $5.6 billion,
while hotelier John Pritzker saw his wealth drop by $34 million to $2.56 billion.
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