A new report has outlined the staggering growth of the wealth of U.S billionaires throughout the COVID-19 pandemic.
But who are the lucky few to benefit from a global pandemic? Here's the full story...
Now, for most people, the ongoing pandemic has hit hard.
As the world gradually locked down and adopted social distancing measures, millions of businesses were forced to close their doors.
Sadly, many never reopened...
And, as a result, millions have been left unemployed and, ultimately, with no form of income to support themselves and their families.
As per Inequality.org, more than seventy-six million people here in America lost their jobs between March 21st, 2020, and January 23rd, 2021.
Eighteen million reportedly collected unemployment on January 30th, 2021, too.
The demand for food banks has also been on the rise.
The BBC found that food banks across the country have been straining to meet rising demand during the pandemic, even in some of the country's wealthier regions.
A staggering number of Americans went hungry during the COVID-19 pandemic...
According to data by the Census Bureau, 1 in 8 Americans reported they sometimes or often did not have enough food in November 2020.
Food insecurity hasn't been this rife since 1998 when data about US households' ability to get enough food was first collected.
So, as you can see, the affects of this pandemic have been dire.
But not for everyone, apparently.
As stated earlier, a new report has detailed how, for a select number of U.S billionaires, the pandemic has actually been a blessing in disguise.
The numbers are staggering...
In the pandemic, billionaires got all the spoils, while the rest of us got peanuts. So unfair and unjust. The system is rigged on so many levels.— Sunn #WearAMask 😷 (@SunnJax) March 21, 2021
And, as you'd expect, people are not impressed.
i gotta admit, that we the people are just gonna take the hit from the pandemic while billionaires are somehow able to rake in huge profits really pisses me off— 𝕨ℍ𝕪ℤ𝕘𝕌𝕪 (@wHyZgUy__) March 19, 2021
it's the gawd damn governments main job, protect us from enemies. large or small
The working class are the foundation for these elitists without us doing what we do serve, build, clean, work etc their lives would not be possible. So there should be an obligation for these billionaires to help in the midst of a pandemic but the current government protect them.— Sean Toal (@SeanToal12) March 18, 2021
We need caps on salaries for managers, owners and CEOs. 10 times the amount of their lowest employee wage should be more than enough.— JoAnne Beemon (@Moonbeempath) March 20, 2021
Billionaires made $3.9 trillion so far during the pandemic, and not a dime of it trickled down to the rest of us. There shouldn't be billionaires in this world, not one. Billionaires are screwing over both their employees and their consumers, they are taking the top half of money— Lachelle Wolfe (@cwolmak) March 21, 2021
It's amazing how many "immoral CEOs" there are in the US. And billionaires making hundreds of billions during a pandemic while their companies pay $0.00 in taxes.— Stephen Soldz (@ethicalpsycholo) March 18, 2021
Its almost as if the system creating these CEOs is itself immoral.
This is the real reason they want to continue to do lockdowns....and it's so very sad!!!!— 𝕴𝖒𝕿𝖍𝖊𝕸𝖊𝖙𝖆𝖑𝕷𝖔𝖗𝖉™ (@ImTheMetalLord) March 24, 2021
America's billionaires got 44% richer during the pandemic while more than 80 million people in the US lost their jobs https://t.co/S50cvt7MlL
The report revealed that U.S billionaires saw their wealth grow by an astonishing $1,300,000,000,000 over the course of the coronavirus pandemic.
That's $1.3 trillion, incase you misread all those zeros.
So, who exactly are the lucky few to benefit from a global pandemic?
Well, the report revealed that Tesla CEO Elon Musk, Amazon head Jeff Bezos, and Facebook founder Mark Zuckerberg were among those whose fortunes soared significantly over the course of the year.
Though are we really surprised by that?
This report, which drew from Forbes data, found that Musk topped the list...
With his wealth increasing by 559 percent, leaving him $137.5 billion richer.
Bezos's wealth, meanwhile, increased by 57.6 percent...
Rising from an approximate net worth of $113 billion on March 18th, 2020 to $178.1 billion by March 18th, 2021.
Zuckerberg, on the other hand, saw his fortune rise by eighty-six percent to $47 billion.
Again, not a bad haul during a global pandmemic, is it?
In the wake of this news, President Biden has called for higher taxes on the wealthy to help pay for additional federal spending on infrastructure and other priorities.
Make sure to stay posted for further updates.