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Anymouse 🌹🏡😷11/26/2020 12:33:27 am PST

Yay, capitalism. Never let a disaster go to waste.

Billionaires in the U.S. have grown their wealth by over a third — or by more than $1 trillion — since the COVID-19 pandemic hit the nation in March, a new report finds.

At the same time, the economic crisis caused by the coronavirus pandemic has left millions of Americans jobless and struggling to pay their mortgages, rents and food bills.

A report released Wednesday by the Washington-based Institute for Policy Studies tracked the net worth of the over 650 of the wealthiest Americans from March 18 to Nov. 24, and found that dozens joined the ranks of billionaires during this period and that 29 saw their wealth double amid the pandemic.

The net worth of this minuscule group is twice the amount of wealth of the bottom 50% of U.S. households — about 160 million people, per the report.


U.S. Billionaires Grow Wealth By Over $1 Trillion Since Pandemic Began: Report (Huffington Post)

Meanwhile, millions of Americans are unemployed and struggling to pay mortgages or rents amid the coronavirus crisis.