In the wake of the epidemic of rising tech stocks, U.S. The list of billionaires has shifted to the top.
Novelist and philanthropist Mac Kenzy Scott, who recently divorced Amazon founder Jeff Bezos, is now the richest woman in the world. Last week, Tesla CEO Elon Musk surpassed Facebook CEO and co-founder Mark Zuckerberg, becoming the world’s third richest man after Jeff Bezos and Bill Gates.
Following the outbreak of the epidemic in March, U.S. tax fairness, according to an advocacy group analysis, The billionaire’s combined has grown by about 800 800 billion, or more than 25 percent.
As part of his divorce, Scott acquired a percent stake in Amazon, whose stock is splitting into coronavirus-induced lockdown sales as online sales and home delivery. Shares have risen nearly $ 2,000 since the beginning of the year to 3, 500,500.
Shares of Tesla rebounded after the stock split on Monday, with investor prices expected to rise 500 percent this year as investors expect Tesla to dominate the electric vehicle market in the long run. Retail investors on low-cost, low-entry platforms, such as Robinhood, have also made the stock a favorite, generating self-sustaining momentum that leaves the company’s price far behind the earnings ratio, a classic measure of stock value.
Kasturi’s personal fortune has tripled since the onset of the epidemic in March. As part of the recently negotiated pay package, its board will give it an additional 50 50 billion if it meets a set of agreed performance targets.
While it is a wild and crazy carousel at the top of the billionaire index, the vague pace of wealth accumulation comes in stark contrast to the economic devastation that millions of Americans at the other end of the spectrum are facing.
The Federal Reserve estimates that net household records fell 5.6 percent in the first quarter, the largest single-quarter decline since the 1950s.
With unemployment at 10.5 percent, 1 million people still file for unemployment benefits for the first time a week, and some Americans who legislate for additional emergency funding are still turning to crowdfunding to keep their stores open, pay for medical procedures and funerals. Also.
According to Feeding America, nearly half of Americans are hungry in their homes, and demand for food pantries has increased by 20 percent since the onset of the epidemic.
In addition, about 40 million Americans could potentially move out of their homes in the coming months. President Donald Trump said Tuesday that the Centers for Disease Control and Prevention will exercise its authority to prevent jobs from becoming vacant by the end of the year.
“The growth of billionaire wealth – with deteriorating health and the fortunes of most working class and low-income families – is evolving and invulnerable,” said Chuck Collins, director of the Institute for Policy Studies’ program on inequality.
While Musk has denied coronavirus sanctions as a “fascist”, tweeted that he wants to sell “almost all material assets”, and complained that the price of Tesla stock is “too high”, Scott is one of the billionaires who signed. Out of his more than billion 1 billion in assets, Scott recently donated 7 7 1.7 billion to fund nonprofit organizations and historically Black C of Legends.
