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COVID is cover for wealth and power transfer from middle class to super-rich

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COVID is a cover for wealth transfer to billionaire oligarchy: (https://ips-dc.org/wp-content/uploads/2020/04/Billionaire-Bonanza-2020.pdf
Billionaire Bonanza 2020, published by the Institute for Policy Studies on April 23, 2020.

  • “Between March 18 —the near bottom point of the pandemic financial swoon —and April 10, 2020, U.S. billionaire wealth rebounded by $282 billion.”
  • “Between January 1, 2020 and April 10, 2020, 34 of the nation’s wealthiest 170 billionaires have seen their wealth increase by tens of millions of dollars. Eight of these billionaires —Jeff Bezos (Amazon), MacKenzie Bezos (Amazon), Eric Yuan (Zoom), Steve Ballmer (Microsoft), John Albert Sobrato (Silicon Valley real estate), Elon Musk (Teslaand SpaceX), Joshua Harris (Apollo Global Management), and Rocco Commisso (Mediacom) —have seen their net worth surge by over $1 billion.”
  • “As of the publication of this report, Bezos’ wealth has increased over $25 billion since January 1, 2020 and $12 billion since February 21st, 2020, the beginning of the Covid-19 pandemic.”

(More articles on this topic)

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