Reports: 10 wealthiest people grow fortunes by $347B in 2020
UPDATED 4:15 PM PT – Sunday, January 3, 2021
The world’s wealthiest individuals are continuing to grow their fortunes while major economies remain shut down.
According to latest corporate earnings reports, 10 of the wealthiest men in the world have increased their net worth by $347 billion in the past 12 months.
These reports included Amazon’s Jeff Bezos who added $75 billion to his fortune, as well as Facebook CEO Mark Zuckerberg and Bill Gates.
Critics have said COVID-19 lockdowns benefited large corporations and online retailers while millions of small businesses have collapsed.
While canceling Amazon prime, I was asked to complete a survey and give a reason. My reason: During Covid-19, small & medium businesses were getting crushed while Amazon increased its profit manifold. I was expecting Amazon to help out small & medium businesses somehow+
— Saswati Sarkar (@sarkar_swati) January 3, 2021
“Would you like to be told you can’t leave your own home, told what you can and can’t do, and told that you can’t celebrate Christmas? Well, this year you are being told these things! And you can do all your holiday shopping nationally with Amazon, as all local businesses have been exterminated,” YouTuber JP Sears said in a recent video.
Meanwhile, the Trump Administration is working to reduce poverty and unemployment caused by economic lockdowns in individual states.