Billionaires Made Even More Money as Nation in Despair From COVID-19

Billionaires Made Even More Money as Nation in Despair From COVID-19

(AmericanProsperity.com) – With many Americans forced out of a job because of mandated shutdowns, people are stuck at home and unable to work. On top of this, most citizens have experienced nearly 10 months of social distancing and isolation. But, there’s one group of Americans doing well with all the forced changes: billionaires.

The Rich Got Richer in 2020

Multiple Big Tech CEOs have multiplied their net worth since the pandemic started. Americans for Tax Fairness found that the total wealth of the 651 US billionaires increased by $1 trillion dollars from March to early December of 2020. To put that in perspective, they now hold a total of $4 trillion dollars combined.

Who Made the Most Money This Year?

Capitalizing on Americans needing to stay home rather than shop in-person, Amazon’s Jeff Bezos became our nation’s richest man at the close of 2020. However, Tesla and SpaceX founder and CEO Elon Musk just surpassed Bezos’ net worth.

News outlet AJ+ compares his riches to what much of America experienced last year:

Facebook’s Mark Zuckerberg went from a net worth of $54.7 billion on March 18, 2020, to $104.8 billion on December 7, 2020. Other billionaires associated with Microsoft, Oracle, Google, and Walmart all earned similar amounts.

America Must Learn From Our Mistakes

While the numbers are daunting, American ingenuity is often fueled by one’s desire to earn money, fame, and provide for those you care about. Author Cheryl Chumley shares her opinion on this issue at the Washington Times:

This massive accumulation of wealth wouldn’t be so hard to watch right now if Americans were allowed to go out and work for themselves. So, rather than tax the rich and stifle their creative drive, we need to let everyone fight for their own American dream.

~Here’s to Your Prosperity!

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