Billionaires got $1.3 trillion richer in the past year of lockdownMarch 23, 2021 - 10:59 AMT PanARMENIAN.Net - For American billionaires, the past 2 months have been a year of record profits: In the past year, the combined wealth of the United States' 657 billionaires has increased more than $1.3 trillion, or 44.6%, Fast Company reports. These billionaires now have a combined net worth of $4.3 trillion, exemplifying the idea of a K-shaped recovery. That figure comes from the latest report from the Institute for Policy Studies, a progressive think tank that has been tracking billionaire wealth during the pandemic since its first “pandemic profiteers” report in April 2020 that showed how billionaire wealth bounced back after the initial stock market crash. A year later, billionaires are still seeing their wealth grow, and there are 43 new billionaires who didn’t even exist at the start of the pandemic. Fifteen billionaires who saw their wealth grow the most—including Tesla’s Elon Musk, Amazon’s Jeff Bezos, and Facebook’s Mark Zuckerberg—saw a combined increase of $563 billion since March 18, 2020, when COVID-19 lockdowns began. Even among those top billionaires, some saw bigger earnings than others: Musk’s wealth increased by $137.5 billion, or 559%, and Bezos’s by $65 billion, or 58%. In that same year, almost 80 million Americans lost their jobs; as of February 27, 2021, 18 million were still collecting unemployment. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. Armenian Economy Minister to make trip to UAE May 20-22 A delegation led by Minister of Economy Gevorg Papoyan will travel to the UAE capital of Abu Dhabi on May 20-22 Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. |