categoryMenu_new
 
  Home
  EXTRAORDINARY AH Teaching from Spiritual Hierarchy
  AbundantHope
  NEW READERS! Read Here First
  Supporting AH
  Leadership of AbundantHope
  Announcements
  Regional AH Sites
  Other Sites with AH material
  Contact Us
  Becoming A Messiah
  OUR PUBLIC FORUM IS OPEN TOO ALL
  Mission Ideas
  System Busting
  Cleric Letter/English
  Translations of Cleric Letter
  AH Member Writings
  Candace
  Ron
  Rosie
  Jess
  Brian's Poetry
  James
  Giuseppe
  Esteban
  Telepathic Messages
  Candace
  Jess Anthony
  Vince
  Leonette
  John
  Adam
  Bela
  Joyce
  Hazel
  Kibo
  Peter
  Rosie
  Johan
  Lucia
  Lucia G
  Rubens
  Shellee-Kim
  Ben
  Dorothea
  Solon
  Others
  Targeted Messages
  Hano
  Light Flower
  Changing The Face Of Religion
  - Phoenix Journals - PDF in German
  Candace on Religion
  Other Spiritual Pieces
  Spiritual Nuggets by the Masters
  Phoenix Journals
  Phoenix Journals - PDF
  Telepathic Messages PDF books
  Selections from the Urantia Book
  Illustrations For The Urantia Book
  CMGSN Pieces
  THE WAVE
  Environment/Science
  David Crayford and the ITC
  Health and Nutrition
  Podcasts, Radio Shows, Video by AH
 
  Political Information
  True US History
  Human/Animal Rights
  The Miracle That Is Me
  Education
  Resources
  911 Material
  Books - eBooks
  government email/phone #'s
  Self Reliance
  Video
  Websites
  Alternative News Sources
  Art and Music
  Foreign Sites
  Health and Healing
  Human/Animal Rights
  Scientific
  Spiritual
  Vegan Recipes
  Translated Material
  Dutch
  Gekanaliseerde berichten Jess
  Gekanaliseerde berichten Candace
  Gekanaliseerde berichten Anderen
  Artikelen/berichten
  French
  Canal Jess
  Par Candace
  Other Channels
  Articles
  German
  Telepathische Nachrichten (Candace)
  Telepathische Nachrichten (Jess)
  Telepathische Nachrichten (div.)
  AH Mitgliederbeiträge (Candace)
  AH Mitgliederbeiträge (Jess)
  Spirituelle Schätze
  Italian
  Translations - Candace
  Translations - Jess
  Translations - Others
  Portuguese
  by Candace
  By Jess
  By Others
  Spanish
  Anfitriones Divinos
  Bitácoras Fénix
  Creadores-de-Alas (WingMakers/Lyricus)
  Escritos de Candace
  Escritos de Otros
  Monjoronsón
  Telemensajes de Candace
  Telemensajes de Jess Anthony
  Telemensajes de Otros
  Chinese
  By Candace
  By Jess
  By Others
  Korean Translations
  Hungarian Translations
  Swedish Translations

Search
[an error occurred while processing this directive]
Political Information Last Updated: May 22, 2020 - 5:15:06 PM


US Billionaire Wealth Skyrockets to Over $3 TRILLION during pandemic
By Russia Today
May 22, 2020 - 5:12:09 PM

Email this article
 Printer friendly page Share/Bookmark

https://www.rt.com/business/489466-billionaires-wealth-growth-pandemic/

22 May, 2020
Get short URL

US billionaire wealth skyrockets to over $3 TRILLION during pandemic

Amazon founder and CEO Jeff Bezos © Reuters / Lindsey Wasson

Over the last two months unemployment in the United States has risen to levels not seen since the Great Depression. However, US billionaires got even richer during the same period of coronavirus pandemic.

A new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies showed their fortunes soared by $434 billion or 15 percent during the nation's lockdown between mid-March and mid-May. The billionaires' combined net worth rose from $2.948 trillion to $3.382 trillion.

The top five US billionaires-Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett and Larry Ellison-saw their wealth grow by a total of $75.5 billion, or 19 percent. Together they captured 21 percent of the total wealth growth of all 600-plus billionaires in the last two months.

The fortunes of Amazon's Bezos and Facebook's Zuckerberg together grew by nearly $60 billion, or 14 percent of the $434 billion total. In March there were 614 billionaires on the Forbes list, and 630 two months later, including newcomer Kanye West at $1.3 billion.

Tesla's Elon Musk had among the largest percentage gain of billionaires during the two months, seeing his net worth jump by 48 percent in the period to $36 billion.

The report noted that during that same approximate period, more than 38 million working Americans lost their jobs, nearly 1.5 million Americans got infected with the virus and more than 90,000 died.

"The pandemic has revealed the deadly consequences of America's yawning wealth gap, and billionaires are the glaring symbol of that economic inequality," said ATF's executive director Frank Clemente.

ALSO ON RT.COMWorst month since Great Depression: US unemployment rate soars to 14.7%, with 20.5 million jobs lost in April

According to him, Jeff Bezos' wealth growth by $35 billion was almost the same sum that the CARES Act is spending on education programs. Mark Zuckerberg's $25 billion growth - the same amount the CARES Act is spending on improved SNAP (Supplemental Nutrition Assistance Program or ‘food stamps') food benefits.

"The ‘Millionaires Giveaway' should be immediately repealed and the $250 billion raised used to rescue struggling families and communities," Clemente said.

READ MORE: Only if you're rich: Coronavirus fears spark demand for private jet travel

Director of the IPS Program on Inequality and co-author of the Billionaire Bonanza 2020 report Chuck Collins said that the surge in billionaire wealth during a global pandemic underscores the "grotesque nature of unequal sacrifice."

"While millions risk their lives and livelihoods as first responders and front-line workers, these billionaires benefit from an economy and tax system that is wired to funnel wealth to the top," he added.

For more stories on economy & finance visit RT's business section




All writings by members of AbundantHope are copyrighted by
©2005-2020 AbundantHope - All rights reserved

Detailed explanation of AbundantHope's Copyrights are found here


Top of Page

Political Information
Latest Headlines
Jewish Billionaires Use Blacks to Oppress Others, says Indian-American Lawyer
Feared Zaslon Assassins Deployed To America With Orders To Wipe Out ANTIFA Leadership
Russia Designates Floyd George “Incident” Psyop Operation—Warns CIA Is Main Target
Hong Kong is No Longer British, Never Really Was, and it’s time to let go of all our hypocritical, nostalgic colonial nonsense
Trudeau Accused of ‘child abuse’ for Pushing to Ban Help for gender-confused Kids
British Public Not Buying Ludicrous Anti-Trump Media Narrative
Researchers Retract Botched Anti- Hydroxychloroquine Study Which Was Used To Attack Trump
Libyan Warlord Haftar's Siege On Tripoli Finally Over As UN-Backed Govt Declares Victory
Trump Campaign Blasts Twitter for CENSORSHIP as George Floyd clip taken down due to copyright claim
Some Facts Worth Knowing
Facebook Selectively Slaps ‘state-controlled media’ warning on some government-funded Outlets Ahead of 2020 US Elections
Washington DC Mayor Scraps Curfew, Calls For Withdrawal Of National Guard Troops, As Nation Braces For More Unrest
The DOJ Has Launched An Investigation As More Evidence Emerges That Someone Is Orchestrating The Violent Riots
German Govt Official Suspended After Accusing Political Leaders of Overreacting to Pandemic
100 Illegal Boat Migrants Escorted Again Into British Waters by the French Navy
Note To Rioting Americans: A Guide To Safe & Profitable Looting
Europe’s Antifa History Should Serve as a Warning to America
Mortality Rates of China Coronavirus were Complete Garbage – Now It Is Clear the Coronavirus Data Is Garbage as Well
O’Keefe Strikes Again! Project Veritas Infiltrated Antifa and Will Release Undercover Footage Tomorrow
Think Floyd