Skip to main content

Black Listed News
Trending Articles:
Trending Articles:

We Are Witnessing the Greatest Wealth Transfer In Human History - U.S. Billionaires Gained $1 Trillion Since The Pandemic Started

Published: November 29, 2020
Share | Print This


Source: statista.com

American billionaires haven't been just immune to the pandemic, they have been thriving in it, drastically increasing their collective wealth. An analysis by Chuck Collins at the Institute for Policy Studies found that American billionaires have been their wealth grow by $1 trillion since March of this year - more than 34 percent. That was not the case during the 2008 financial crisis when it took Forbes' 400 richest people three years to recoup their losses from the Great Recession. Collins' findings highlight a wealth gain by a mere 650 individuals that seems obscene at a time when nearly 7 million Americans are at risk of eviction when moratoriums expire at the end of the year.

There are 650 billionaires on the list, out of which 47 are new arrivals with 11 dropping out due to death or financial decline. There were numerous impressive financial gains among notable billionaires on the lit with Jeff Bezos growing his fortune by $69.4 billion between March 17 and November 24. The Amazon boss and richest man on the planet is now with $182.4 billion. The most impressive gain on the list was recorded by Tesla and SpaceX CEO Elon Musk who has seen his fortune experience a meteoric rise. In the above period, his weath surged a whopping 414 percent, climbing from "just" $24.6 billion to $126.2 billion, making him the world's second richest man after Bezos.

Illustrating the gulf in financial inequality in the U.S. today, the analysis states that U.S. billionaires own $4 trillion, 3.5 percent of all privately held wealth in the country. Billionaire wealth is now twice the amount of wealth held by the bottom 50 percent of all American households combined, approximately 160 million people.

Infographic: U.S. Billionaires Gained $1 Trillion Since The Pandemic Started | Statista
 
 

Share This Article...



Image result for patreon

You Might Like


Image result for patreon


PLEASE DISABLE AD BLOCKER TO VIEW DISQUS COMMENTS

Ad Blocking software disables some of the functionality of our website, including our comments section for some browsers.





Login with patreon to gain access to perks!

SIGN UP TO GET BLACKLISTED NEWS DELIVERED RIGHT TO YOUR INBOX

Enter your email address:




More Blacklisted News...

Blacklisted Radio
Blacklisted Nation
On Patreon
On Gab
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Republic Broadcasting
Podcasts on Youtube
Podcasts on Demand
On Iheart Radio
On Spreaker
On Stitcher
On iTunes
On Tunein

Our IP Address:
198.245.55.242

Sponsors:
Garden office

good
longboard
brands


Advertise Here...


Libertas Bella

Get your 2nd Amendment Shirts
over at Libertas Bella







BlackListed News 2006-2019
Privacy Policy
Terms of Service