Billionaires are still cashing in on the Coronavirus crisis

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the laughing billionaire Jeff Bezos (Pic: Wikipedia)




“Pandemic be damned”. That’s the message from Forbes, which calls itself “the defining voice of ­entrepreneurial capitalism.”

It reported last week that “America’s super‑rich are doing better than ever”.

The aggregate wealth of Forbes’ top 400 list is £2.5 trillion. That’s up 8 ­percent from a year ago and a record in the four decades it has tracked the richest Americans’ fortunes.

Ordinary people in the US face rampant coronavirus, mass unemployment, and reduced wages.

But for those at the top it’s boom time.

Jeff Bezos, chief executive of Amazon, remains in the top spot for the third ­consecutive year. Bezos’ fortune of £138 billion, as of 24 July, is up 57 percent from last year.

Since then Forbes reported in late August that Bezos’ net worth reached a ­record-breaking £160 billion, with Bezos the first person in history to reach this obscene milestone. Others to profit from the pandemic include one of the newcomers on this year’s list—Eric Yuan, chief executive of Zoom Video Communications, with a net worth of £8 billion.

“The remarkable growth in fortunes of The Forbes 400 stands out at a time of pandemic-induced ­economic upheaval,” said

Kerry A Dolan, …

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