U.S. Billionaires Boost Their Wealth by 40 Percent During Coronavirus Crisis

Breitbart ^ | January 28 2021 | JOHN BINDER

[knighthawk]

Billionaires in the United States have increased their wealth by nearly 40 percent since the start of the Chinese coronavirus crisis, new analysis finds.

The nation’s 660 billionaires have grown their collective net worth by $1.1 trillion since March 2020, when economic lockdowns closed small and medium-sized businesses, according to analysis by Americans for Tax Fairness.

In March 2020, U.S. billionaires had a combined net worth of just under $3 trillion. Today, that net worth has jumped to $4.1 trillion — a 38.6 percent increase in wealth for the nation’s richest one percent of earners.

[Tolerance Sucks Rocks]

But don’t you little people DARE crowd-fund a failing stock!

[snarkytart]

of course a lot of small and medium business were killed off.

[cherry]

yeah but but but....we’re going to get that $2000!

[DesertRhino]

Almost like it was a plan...

[Lurkina.n.Learnin]

My IRA did well also.

[Basket_of_Deplorables]

We are ruled by billionaires, and their lackeys in congress.

[GOP Poet]

exactly. It’s sickening. And God forbid anyone other then them profit in the same spheres and offer competition (Parler, Gab . . .)

[palmer]

The analysis shows the massive gap in economic gains and losses between the nation’s wealthiest and working and middle class Americans who have disproportionately been impacted by the crisis and the subsequent economic lockdowns various state governments have imposed.

A bit more thorough analysis would show that the reason that many of those billionaires got wealthier is that they sell stuff online and the pandemic boosted their businesses.

[Trinity5]

God I hate these articles. The are using a “start date” of when the market bottomed out in March of 2020. We had three different record setting drops in March ending on March 16th. A large majority of this “record” gains was just a recouping of enormous loses...

https://www.thebalance.com/fundamentals-of-the-2020-market-crash-4799950#:~:text=The%20stock%20market%20crash%20of,point%20drops%20in%20U.S.%20history.

[sten]

irrelevant

unless they’re storing their money in their bedroom and rolling around on it like Scrooge McDuck... they’re keeping it in a bank (worst case), some investment (ie: markets, startups), or bought property.

no matter what they did, that money spread around to other people... which results in more jobs and opportunities.

obvious to those on the right ... but to the left, this is black magic

[CincyRichieRich]

Some pigs are more equal than others.

[DIRTYSECRET]

They’re democrats right? The answer is simple. Divy up their wealth amongst the 47% mittens talked about. We can be santa Claus just once.

[joethedrummer]

Of COURSE they did..

And those SAME people put me out of work since March.

What is it that they’re always screaming? -“the rich get richer while the poor get poorer?...”