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How U.S. Billionaires Like Amazon’s Jeff Bezos Saw Wealth Grow by $1.3 Trillion

A brand new report reveals that as a report variety of folks within the United States misplaced their jobs and struggled to place meals on the desk through the previous yr of the pandemic, the mixed wealth of the 657 billionaires within the nation grew greater than $1.Three trillion, practically 45%, together with Amazon CEO Jeff Bezos, who noticed his private wealth improve by $65 billion — greater than $7 million each hour.

“They are often leading companies who have benefited from the pandemic conditions by having, essentially, their competition shut down,” says Chuck Collins, writer of the report on pandemic profiteers by the Institute for Policy Studies and Americans for Tax Fairness.

“These folks have reaped enormous windfalls in this pandemic.” The large good points come as strain grows on lawmakers to impose new taxes on the highest 1%, with each Senators Elizabeth Warren and Bernie Sanders proposing new measures to deal with rising financial inequality.

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