Billionaire wealth jumped 27.5 percent during the early pandemic lockdowns
Evidence
This explains the report of Swiss bank UBS, published in October 2020, which found that billionaires had increased their wealth by more than a quarter (27.5 per cent) between April and July of that year, just as millions of people around the world lost their jobs or were struggling to get by on government schemes. — Yanis Varoufakis, Technofeudalism, 523
Categorization
- corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 523
- XREF: connects to: Wealth concentration has accelerated dramatically across major economies — Clara E. Mattei, Escape from Capitalism: An Intervention, 27; The Fed’s COVID-era policies shifted public resources to large corporate capital holders. — Clara E. Mattei, Escape from Capitalism: An Intervention, 377; COVID relief disproportionately enriched the wealthiest Americans and largest corporations. — Andrew deWaard, Derivative Media: How Wall Street…, 89
Broader Connections
- Wealth concentration has accelerated dramatically across major economies
#expands(0.80) — Clara E. Mattei, Escape from Capitalism, 27 - COVID relief disproportionately enriched the wealthiest Americans and largest corporations.
#corroborates(0.80) — Andrew deWaard, Derivative Media, 89 - The Fed’s COVID-era policies shifted public resources to large corporate capital holders.
#corroborates(0.78) — Clara E. Mattei, Escape from Capitalism, 377