“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. Billionaires have hit a disturbing milestone:ONE TRILLION DOLLARS in wealth gains during the pandemic.https://t.co/Za4TttVtl8 pic.twitter.com/Qqr6A3Duqd— Inequality.org (@inequalityorg) November 25, 2020 Amazon’s Jeff Bezos saw his net worth grow 61% since mid-March, from $113 billion to $182.4 billion. Amazon’s workers, meanwhile, haven’t received hazard pay in months, even as they’ve continued working during the worsening pandemic. Nearly 20,000 Amazon workers have been infected with coronavirus, according to the company. Bezos is one of five “centi-billionaires” in the world — people with a net worth over $100 billion — alongside Louis Vuitton chairman Bernard Arnault, Microsoft founder Bill Gates, Facebook CEO Mark Zuckerberg, and Tesla CEO Elon Musk. Three years ago, there were no centi-billionaires, according to the report. The U.S. unemployment rate was nearly 7% last month — with over 11 million Americans considered unemployed — nearly twice the level of February, before the pandemic hit. The U.S. Census Bureau’s survey of American households found that from Oct. 28-Nov. 9, over 15 million households — or 28% of renters surveyed — had either “no confidence” or only “slight confidence” of being able to make their next month’s payment.
Report From Katie Porter Shows 1 In 5 Women Have Left Workforce Since Pandemic
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["Rep. Katie Porter (D-Calif.) is calling out how the COVID-19 pandemic and its related economic crisis have disproportionately pushed women out of the workforce. About 22% — or over 1 in 5 — women in the U.S. have l...
Report Shows How New Zealand Mosque Shooter Eluded Detection
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["WELLINGTON, New Zealand (AP) — A comprehensive report into last year’s Christchurch mosque shootings in which 51 Muslim worshippers were slaughtered sheds new light on how the gunman was able to elude detection by a...
Trump Asked Top Republican In Pennsylvania House To Intervene In Election: Report
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["President Donald Trump personally called the speaker of Pennsylvania’s House of Representatives twice to ask him to help overturn the results of the 2020 U.S. election in the state, Trump’s latest effort to deny his...
I Began Taking Prozac. Here’s What It Taught My Conservative Family About Mental Health.
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["Courtesy of Stacia Datskovska The author. In May I found myself curled up on the kitchen floor ― numb and crying. My mom stood beside me begging for me to stop. Eventually, when she realized I wouldn’t respond, she ...
Trump Campaign Committees Spent $1.1 Million On Trump Properties In Last Weeks: Report
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["President Donald Trump’s campaign committees spent more than $1.1 million at his own properties in the final weeks of the presidential race, The Washington Post reported Friday. That makes an astonishing total of $6...
It’s That Time Of Year: Fox News’ ‘War On Christmas’ Gets A Pandemic Twist
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["Fox News host Tucker Carlson gave the network’s worn-out “War on Christmas” rhetoric a pandemic-era twist on Thursday, accusing public health experts of trying to cancel the holiday. Infectious disease experts and p...
Mike Pompeo Sends Out 900 Invitations For One Big Holiday Party: Report
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["Secretary of State Mike Pompeo and his wife have sent out around 900 invitations for one of several indoor holiday parties at the State Department, despite the coronavirus pandemic and bleak warnings from public hea...
Gloria Estefan Reveals She Caught COVID-19, But Has Since Recovered
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["MIAMI (AP) — Singer and businesswoman Gloria Estefan said on Wednesday that she spent much of November in isolation after testing positive for COVID-19, days after dining outdoors at a Miami-area restaurant. Estefan...