The world’s 25 richest billionaires have gained nearly $255 billion in just 2 months
U.S. stock indices have been on a tear for the past two months despite the pandemic. That’s lifted the fortunes of the world’s wealthiest.
. Shares of the ecommerce giant have continued on a tear amid increased demand since coronavirus shuttered physical retailers. Amazon stock is up 29% since March 23. As of the end of the day Friday, Bezos was worth $146.9 billion, up $30 billion and 26% since March 23.
The biggest percentage gainer isColin Zheng Huang, the founder of China's second largest online marketplace (behind Alibaba), Pinduoduo. Boosted by the firm's social shopping model, in which users share purchases with friends and family, and an aggressive campaign offering subsidized deals to consumers, Pinduoduo's shares have nearly doubled since March 23, and Huang, its 40-year-old founder and CEO, has added $17.9 billion to his fortune; he's now
, worth $35.6 billion.Colin Zheng Huang, chief executive officer and founder of Pinduoduo, at the company's office in Shanghai, China.© 2017 Bloomberg Finance LPMukesh Ambani, who became Asia's richest person in April after Facebook announced a $5.7 billion investment into Mumbai-based Reliance Jio, a telecom subsidiary of the sprawling conglomerate founded by Ambani's late father. The company has since raised loads more, including $1.5 billion from private equity giant KKR on Friday and $750 million from investment firm Silver Lake earlier this month. All told, the firm has raked in $10 billion of fresh capital in less than one month. Ambani is now worth $52.7 billion, up nearly $20 billion since the market trough.
Billionaires with net worths tied to stakes in technology companies have led the way for gains amid the pandemic. The tech-heavy Nasdaq composite index turned positive for the year earlier this month, and it's up 37% since March 23. The S&P 500 and Dow Jones, meanwhile, are up about 31% each–still down roughly 10% and 15% for the year, respectively.
Walmart heirs Rob, Alice and Jim speak during the annual Walmart shareholders meeting event on June 1, 2018 in Fayetteville, Arkansas. Read more: Forbes »
A plandemic in play for none the rich. And the people say there has been an economic crunch in the world. There's none. Rich are getting richer. How nice the HUMAN CAPITAL STOCK could help enrich them while they pay 💩 wages and benefits. 🙄 Nothing but the deepest darkest hell to these mfs ⚠️Hazard ⚠️ . . . . . 💸 Pay. 💸 😷😷😷😷🤒🤒🤒🤒
Boycott his businesses! ain't that cute... EstulinDaniel ¿Juntando dinero para su retiro? Please share the wealth with the rest of us working during this pandemic - so many Americans out of work- how can possibly spend it all - why not share so no one suffers.... Humanity must just wait for another 10 years and wait for another play,game wil b the same but the lie wil b deferent.
So they bypass recession by simply unleashing corona wow these are blue chip gamblers and they bring meaning to the word SAVAGE New World order rich become richest 😎😎😎 I think it is such a foolish as a man with limited life accumulates money infinitely Such a pile of money is to fail to function properly and rot without being given to the poor in the coffers of the rich.
I was a surprised to read this but then saw how deceptive this article is. The author is measuring gains from when markets bottomed on 23 March!! They had already fallen 30% then so the gain in wealth should be measured against the huge falls before This is pure sin. There is something wrong w/ this system. His workers are at uneccessary risk in their jobs. Tgey are ignored. Whistle Blowers in upper management were recently fired. Yet the metronome counts tge 24/7 cash crawl to first trillionaire. NotMyAmerica
How are these billìonaires net worth is valued? Is it based on net assets or equity / net assets plus / minus long term debt? Does the gain come from what? Increase or growth in retain earnings of their business Capitalism Oksalayo bazofa Woh!! Pandemic what now!! Please end world hunger 💛 👀 _KP_Raps And water is wet
Business is recession proof. Invest in it instead of being bitter. I still say COVID was designed for the wealthy to buy more of the world. Collapse the markets and buy it at a steal.👌🏾 And next year they will go to Davos to talk about eliminating poverty and inequality, and they will make more money again and then go to Davos for same subject and the circle repeats over and over.
The rich still cashing out in this lockdown. so poor ppl are suffering while super rich are getting richer the system of capitalism Having lots of money is a very good idea. Which one of them is going to be first on the menu when the poor have no choice but to eat them. Meanwhile small businesses are closing up shop all over Main Street in America.
I’ll be the next top 5 billionaires in the world 💕💕💕😻😻😻🙏 The world system is so unbalanced and unfair. It makes rich more richer. Time to change our tax system and need to bridge the gap. Which one is fact?200+ or 400+ i mean the business he runs literally is optimal for getting most of the things you need that aren’t grocery related right about now so i do t know what you expected his business is perfect for this situation so he gets paid
Meanwhile.....massive unemployment and food lines. Poorly written story designed as clickbait. How are they doing compared to peak? Compared to low everyone is up... JeffBezos is LexLuthor I want to be on that list Hmmmmmmmm UclaBruin1998 It’s amazing that tRump’s nemesis JeffBezos is always front and center. The Walton family, of Walmart infamy, is the real Main Street killer, parasite of government programs for its poorly paid workforce, crusher of small businesses and huge outlet for Chinese goods.
We just keep making them more rich To fix this wealth inequality that’s happening, us consumers need to start buying from small businesses while the government subsidize small business in order to promote competition. sar_oso We’re literally sick to death of the ultra rich. Capitalism is a weak and evil system.
On average $1B per day per each billionaire. As if Dems had nothing to with the horrific stimulus bills! These billionaires are exactly who Biden will gladly serve. They all belong to the same club! Nothing will change. Berita begini gimana gak mancing keluarnya teori konspirasi kalo virus ini memang grand scenario nya orang2 kaya. Hidup orang laen jadi experimen. Dan berhasil nambah pundi2 mereka.
Just wanted to say a big thank to you traderalbert1 for helping me on my trade I made $10,000 with $3,000 investment I had good guidance with him on this forex trade skill, I've had of his trade on a comment so I contacted him.i just want to say one more thanks to you sir. Mark Zuckerberg the racist white male
G - MAFIA 👇 Google Microsoft Apple Facebook IBM Amazon By mlukacs 🤑👀 Are you intentionally trying to trigger Crazy Bernie & Dementia Joe.? On the backs of the poor, middle class ..... Explains the whole pandemic... What’s the big deal? That’s only an average of $10billion each. (/s) Cash Cow “The world’s 25 richest billionaires have gained nearly $255 billion in just 2 months.” Interpretation: If I’m not mistaken 4 of the top 10 don’t give to the poor.
Yet no one gets upset with stars and entertainers who don’t give to charities but blames good CEOs who provide jobs and donates fortunes to charities. Oh the irony❤️✝️ It is hard to make out if they have gained or competitors have lost a fortune! Amazon could have gained through streaming site in lockdown, what else?
The rest of you plebs should be grateful for your $1200. Heads they win, tails we lose You have gone downhill by employing sensationalism. Please Sir, may I have some more ! And Trump improved his golf handicap by three strokes. Win - win 🙉 Thanks to you taxpayers. Ain't America great?! Ahora la lista de los que perdieron....
No no no... they gave workers $2/hr raises... that should have totally eaten into their overall earnings... hence why they're rolling the increases back.. right? And the two months before they lost the same! Stop hating the rich just because you are jealous. It's all relative. How much are they still down from the February highs before COVID-19?
There but by the grace of Fed I still do wonder, and they would have to do it the old fashioned way, what would happen to their money if the top 10-20% richest people/their families in the world were assassinated. I thought the STD ridden March on Wall Street people put an end to that? It would take almost 12 days for a million seconds to elapse and 31.7 years for a billion seconds. Obsceneandintolerable Taxtherich
50 million Americans living in poverty. Well done, capitalism! vomit 🤮 There in business to make money..stop hating. They were still the richest when we were all working anyways. Who cares!! And they of course are all sharing and giving back to their employees and customers who have made it possible Gee...I wonder how...
No shit Bezos is on my list of 'Deaths to Celebrate' adjusted for tax cuts? Crisis Capitalism is the same as War Profiteering. They should be taxed at 90%. Yet the FED printer makes that look like penny's.. 🙄 How do they do this shit? 😭 The wealth disparity is too high. Too unjustifiable Your ~soul is priceless~
Y_Malik18 dang! !!! See am. Na for this same 2020 wey u Dey shout say e bad o. Dey there 😂 Whew, thank god! That's what happens when you start your measurement at the lowest point in the market two months ago. This is misleading reporting. EatTheRich Which is the real reason there was a lockdown for healthy people in the first place. Driven by the elites to cash in.
Oh, yippie!! How wonderful. Now can someone please give me the name of one billionaire who has not reached success by stepping on/taking advantage of others and doing illegal/immoral stuff? Wealth distribution! Rocha50698 Ok. How much did they lose combined in March during the collapse? ... Explain how they can go spend that stuff? Coz Networth isn’t worth much if you can’t do anything with it.
AOC delivers sarcastic response to report that U.S. billionaires got $434bn richer during pandemicReport says that the richest people in the country have seen their combined wealth rise to $3.382 trillion during two-month lockdown.
Does having a side hustle impact your unemployment benefits?How having a second job, side hustle or rental income can impact your eligibility and benefits. MakeIt MakeIt MakeIt Govt must index wages to industry profits implement a basic income from taxes on stock trading and consumer sales. Work from home mean most if us can live anywhere cheaper smaller towns plants warehouses planned in less costly regions
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Investors are piling billions into this Indian telecom operator for a slice of the country's booming digital economyPrivate equity firm KKR has taken a $1.5 billion stake in Mukesh Ambani's Jio Platforms business a month after Facebook announced it was pumping $5.7 billion into the company. Ifb Makes sense for US investors. Question is why is reliance selling off huge stakes now?🤔 Jio Platforms SavedYouAClick
Lori Loughlin and Mossimo Giannulli’s Stunning Plea ReversalLori Loughlin and Mossimo Giannulli are asking for two months and five months in prison, respectively Why is there no mention of where the kids are? Did they go to university? Any university? Did their parents cause any hardships for them by buying places? Stunning is one way to describe it. Arrogant or entitled are others! That's because they knew it wasn't looking good and they were definitely headed to jail. I was waiting for them to come to their senses.