Pandemic Profiteers: Billionaires Including Jeff Bezos Get Billions Richer
By Headline Wealth
April 24, 2020
AP Photo/Pablo Martinez Monsivais
(Daily Mail) American billionaires are enjoying multi-million dollar increases to their net worth as the country’s unemployment levels rise to record highs amid the coronavirus lockdowns
Eight ‘pandemic profiteers’ have seen their net worth surge by over $1billion each since the start of the global pandemic.
Amazon founder Jeff Bezos, 56, has added $25billion to his own wealth since January 1, 2020, as the company’s staff protest their poor working conditions and he makes a return to the company’s day-to-day running. After initially calling the coronavirus pandemic ‘dumb’, Tesla and SpaceX founder Elon Musk has also increased his net worth by $5billion despite the economic downturn.
According to a report from the Institute for Policy Studies, American billionaires added $282 billion – nearly a ten percent increase – to their combined wealth between March 18 and April 10, as the U.S. unemployment rate approached 15 percent.
The United States billionaire class now have a combined net worth of $3.229 trillion.
The report was released Thursday, the same day U.S. Labor Department figures revealed that 4.4 million Americans filed a claim for unemployment benefit last week.
About one in six American workers have now lost their jobs since mid-March, by far the largest streak of US job losses on record.
Poster Comment:
Hey Jeff have you heard about the trickle down economy?
#1: NeoconsNailed To: BTP Holdings, All (#0)
NeoconsNailed posted on 2020-04-24 16:28:16 Reply Private Reply
#2: Anthem To: BTP Holdings (#0)
Anthem posted on 2020-04-24 17:40:34 Reply Private Reply
#3: NeoconsNailed To: Anthem (#2)
NeoconsNailed posted on 2020-04-24 17:51:45 Reply Private Reply
#4: BTP Holdings To: Anthem (#2)
BTP Holdings posted on 2020-04-24 18:52:48 Reply Private Reply
#5: Lod To: BTP Holdings (#0)
Lod posted on 2020-04-24 19:26:23 Reply Private Reply
#6: BTP Holdings To: NeoconsNailed (#1)
I am not too sure. But in politics and most other things that happen, you can figure that nothing happens by chance. You can bet it was planned that way. ;)
BTP Holdings posted on 2020-04-24 20:00:05 Reply Private Reply
#7: StraitGate To: NeoconsNailed (#1)
In the case of Bezos, because people are buying stuff online from Amazon instead of buying it locally. Because corona.
StraitGate posted on 2020-04-24 20:11:01 Reply Private Reply
#8: NeoconsNailed To: StraitGate (#7)
NeoconsNailed posted on 2020-04-24 20:16:00 Reply Private Reply
#9: Anthem To: Lod (#5)
ips-dc.org/wp-content/upl...lionaire-Bonanza-2020.pdf
It's mostly an envy and nag piece, and they do not include companies with losses or whether the companies they included may have been better off without the "crisis".
There are standouts that clearly profited from the demise of small businesses and shift from in-person meetings to online video conferencing.
Amazon tops the list of replacing bricks and mortar businesses. Small businesses on Amazon also profit, although that's a deal with the devil, as Bezos is infamous for ramping up in-house competition against successful "partners".
Anthem posted on 2020-04-24 20:23:13 Reply Private Reply
#10: NeoconsNailed To: BTP Holdings (#6)
https://www.inquirer.com/opinion/jeff-bezos-anti-semitism-bigotry- hatred-20190327.html
NeoconsNailed posted on 2020-04-24 20:51:11 Reply Private Reply
#11: Lod To: Anthem, 4um (#9)
Good thoughts and information; I agree about the envy (jealousy) factor and the way that Bezos has re-shaped retailing since its less than stellar performance beginning in 1998. Just imagine if we'd all bought stock back in the day...
Lod posted on 2020-04-24 20:54:28 Reply Private Reply
#12: StraitGate To: Lod (#11)
If you need a belt for your lawn tractor or a tie rod end for your truck, you can order one from Amazon and it will be delivered to your house in a day or two. No need to make a trip to town. So a lot of people do that.
But lots of businesses have online ordering systems and will ship stuff to anywhere in the country these days, cost competitive with Amazon (sometimes cheaper). So if I need a part for my tractor I can order it online from a John Deere dealer in Missouri. And there's a pleasant show-me gal there named Bethany who can answer any questions about fitment, etc. I doubt if Amazon has a Bethany.
StraitGate posted on 2020-04-24 21:20:39 Reply Private Reply
#13: Lod To: StraitGate (#12)
Lod posted on 2020-04-24 22:04:11 Reply Private Reply
#14: StraitGate To: Lod (#13)
After I ordered and received the wrong part, Bethany looked up the right part for me and said, "I'll ship you the right part; just send me back the other part." No charge for shipping. The parts crossed in the mail. I don't think Amazon would have done that.
StraitGate posted on 2020-04-24 22:24:08 Reply Private Reply
#15: Lod To: StraitGate, 4um (#14)
Amazon said Thursday that its last-mile delivery network is on track to deliver 3.5 billion packages globally in 2019. By comparison, UPS shipped 5.2 billion packages and documents in 2018.
Amazon also said it now employs 800 third-party courier companies — which Amazon calls delivery service partners — that manage 75,000 drivers.
Amazon further revealed that it now operates 150 US delivery stations, which employ 90,000 workers.
Lod posted on 2020-04-24 22:58:56 Reply Private Reply
#16: StraitGate To: Lod (#15)
StraitGate posted on 2020-04-24 23:09:19 Reply Private Reply
#17: Lod To: StraitGate (#16)
Lod posted on 2020-04-24 23:24:18 Reply Private Reply
#18: StraitGate To: Lod (#17)
StraitGate posted on 2020-04-24 23:46:36 Reply Private Reply
#19: Lod To: StraitGate, 4um (#18)
www.breitbart.com/politic...heap-delivery-for-amazon/
Lod posted on 2020-04-25 10:02:48 Reply Private Reply
#20: BTP Holdings To: Lod (#15)
As long as Amazon pays and they are not trying to get cash from the receiver, that sounds cool to me. ;)
BTP Holdings posted on 2020-04-25 10:37:08 Reply Private Reply