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Corona Is A Wealth Booster For The Richest Of The Rich
Corona is increasingly acting like a wealth booster for the richest of the rich.
Yazar: Tom Roberts
Yayınlanma: 19 Eylül 2020 19:40
Güncellenme: 6 Kasım 2024 02:14
Corona Is A Wealth Booster For The Richest Of The Rich
Corona is increasingly acting like a wealth booster for the richest of the rich. While at the other end of the spectrum the risks of poverty are growing because the pandemic has made millions of people unemployed in the United States alone, they have been able to increase their wealth - despite the recession - by an impressive 29 percent in the past six months.
According to the Institute for Policy Studies, one of Washington D.C.'s five major independent think tanks, Jeff Bezos and Bill Gates made $ 845 billion along with the other US billionaires. The study is based on data from "Forbes". The 643 richest Americans combined now have total assets of $ 3.8 trillion - almost 1 trillion more than in March. To illustrate the magnitude: the total roughly corresponds to the GDP of Belgium and Austria combined.
The world's top earners can especially thank the central banks for this. With their continued loose monetary policy, they sparked the turbo on the stock markets. Amazon papers alone grew by 40 percent this year. CEO Jeff Bezos, who holds the largest block of shares, has become $ 55.2 billion richer since February. The Walmart founding family is even heavier today than $ 60 billion. And Tesla boss Elon Musk even has $ 70 billion more on the high edge within six months.
UN: Time to Help the Hungry
The need is far greater in poorer regions of the world, where the pandemic has left much deeper marks. In an urgent appeal, the head of the World Food Program (WFP) therefore turned to the world's billionaires on Thursday to help fight hunger. "We need $ 4.9 billion to feed all 30 million people who will die without the help of the WFP for a year," said David Beasley before the UN Security Council in New York.
There are around 2,000 billionaires worldwide with a combined net worth of $ 8 trillion. Quite a few increased their wealth by billions during the corona pandemic. "I'm not against people making money," he said. "But humanity is facing the greatest crisis we have ever seen in our lives." It is time that those "who have the most step up and help those who have the least in this extraordinary time in world history," continued Beasley. "The world needs you now and it is time to do the right thing."
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