Billionaires within the U.S. have grown their wealth by almost 45% — or by greater than $1.3 trillion — for the reason that COVID-19 pandemic hit the nation final March, based on a brand new report.
A report launched by the Institute for Policy Studies on Tuesday tracked the web value of the wealthiest Americans from March 18, 2020 to March 18, 2021, and located that 43 folks had joined the billionaire ranks over this previous 12 months, based mostly on information from Forbes.
Among those that’ve seen their wealth develop essentially the most within the final 12 months are Tesla founder Elon Musk, Amazon CEO Jeff Bezos and Facebook head Mark Zuckerberg.
Meanwhile, over the previous 12 months, the financial disaster attributable to the coronavirus pandemic has left tens of tens of millions of Americans unemployed and struggling financially.
The U.S. unemployment price was over 6% final month — with about 10 million people considered unemployed — far above the degrees of final February, when unemployment was round 3.5% and about 5.7 million had been counted as unemployed.
“The pandemic profiteers are extracting windfalls of wealth during a time of widespread suffering for the majority of people,” Chuck Collins, director of IPS’s program on inequality, mentioned in a launch.
As Bezos has seen his internet value swell from $113 billion at first of the pandemic to over $178 billion a 12 months later — or a 58% improve — Amazon has been aggressively working to quash unionization efforts at its Alabama warehouse. Workers there are preventing for higher pay and dealing situations.
A spokesperson for Amazon informed HuffPost that beginning pay was $15.30 per hour and that the corporate “offers some of the best jobs available.”
More than 542,000 people have died within the U.S. for the reason that begin of the COVID-19 pandemic.
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