An Average of $200,000 Each to the Richest 10% of Americans. In November of 2019 the Wilshire Total Market stood at about $32 trillion. After plunging at the start of the pandemic, by November of 2020 it had risen to $38 trillion. That's a $6 TRILLION overall increase for stockholders. The richest 10% of Americans (about 25 million adults, most of them millionaires own 84 percent of ALL stocks.
An Average of $1.5 Billion Each to the Richest 650 Individuals. Since the onset of Covid-19 in early 2020, the combined wealth of the 650 American billionaires has increased by nearly $1 trillion. A trillion dollars is enough to provide every U.S. household with a survival stipend of nearly $8,000.
An Average of $25 Billion Each to the Richest 15 Individuals. Bezos, Musk, Gates, Zuckerberg, and the eleven other richest Americans had $922 billion around this time last year. As of Thanksgiving Day this year, their wealth had increased by another $375 billion. That's $25 billion more, on average, for each multi-billionaire, although Elon Musk alone has added about $80 billion to his fortune.
An Average of $600 Billion Each to the 5 Richest Tech Companies. In March, 2020 the market capitalization for Big Tech (Apple, Microsoft, Amazon, Google, Facebook) was $4.1 trillion. By November it was over $7 trillion. A 75 percent increase in under nine months! No one has profited more from 70 years of taxpayer input than these massive technology companies.
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