Jeff Bezos now has a fortune of $138bn.
The boss of Amazon has seen his wealth swell by $24bn (£19bn) after soaring demand for online shopping sent the firm's share price to a new high.
The Waltons, owners of Walmart and Asda saw their net worth rise 5% this year to $169bn, making them the world's richest family.
“The wealth gap, it’s only going to get wider with what’s going on now,” said Matt Maley, chief market strategist at Miller Tabak + Co. “The really wealthy people haven’t had to worry. Yes, they’re less wealthy, but you haven’t had to worry about putting food on the table or keeping a roof over your head. The unfairness of it all is who is going to benefit from it most,” Maley said. “Money makes money.”
The volume of transactions in beaten-down industries, from travel to health care to gaming, suggests executives and directors are more bullish than they’ve been at most other points in the past decade, according to Sundial Capital Research.
Carnival Corp. board member Randall Weisenburger bought $10 million of stock in the beleaguered cruise-line operator last week.
UBS Group AG is seeing ultra-wealthy clients ramp up borrowing to place more wagers in what they see as a cheap market. Mortgage brokers to the rich have said more clients are seeking loans backed by real estate to help them invest in businesses and snap up other assets.
Yes the rich get richer. We have read the story of Rees Mogg's profits out of fear and pandemic. We have seen our government's recently withdrawn and hidden recommendation that those in care homes should not be hospitalised.
ReplyDeleteI have noticed how people help and say a lot but the working class are still marginalised and it is not evil it is ignorance. Many of the social media elite can not comprehend of people who live in flats and can not get out. There are lots of nice people who put on pictures of them in their gardens or on a country walk in order to "cheer" people up. I am sure people without gardens or window boxes appreciate that. Help is available and communication easier for people with the internet. I am even more sure now how much money counts in holing back the growth of society.
The pandemic is exposing the inequality that the media conveniently prefers to hide.
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