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Billionaires' share of global wealth soars during pandemic

19 Comments
By Ali BEKHTAOUI

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The share of global wealth of the world's richest people soared at a record pace during the COVID pandemic, a report on inequality showed Tuesday.

This is inspiring.

Everyone should strive to do their best.

After all, we don't want to live under communism or radical socialism.

-5 ( +3 / -8 )

Surely these 2 routinely featured ‘caucasian’ men are not the only examples of “Billionaires’” whose “share of global wealth soared during pandemic” ? - Are there other countries’ “Billionaires” whose wealth soared ?

2 ( +2 / -0 )

Yes, @zichi 8:14. As @Reckless 9:15 points out: “Obscene and disgusting. A complete abuse of capitalism.” - Is there a reason you have not specifically named those involved?:

*- @zichi 8:14am:“Yesterday, a company CEO used a zoom to 900 employees to inform them they were fired even though last week the company received a $500 million plus investment from Japanese.” -*

2 ( +2 / -0 )

Can you clarify, @zichi 8:14, that gap with what percentage of Americans are so wealthy? Can you also contrast it with some European, Middle Eastern and Asian countries so we may have a better perspective ?

*- **“America is the country will the greatest gap between the very poor and the very rich. America needs tax reforms to ensure the super rich are paying fair taxes.” -*

2 ( +2 / -0 )

After all, we don't want to live under communism or radical socialism.

Speak for yourself.

-3 ( +3 / -6 )

After all, we don't want to live under communism or radical socialism.

If you mean a system where the state controls everything, I'd agree with that, but that isn't the only form of socialism. I'm all for worker run collectives and strong union representation on corporate boards.

2 ( +2 / -0 )

Thanks @zichi 10:57am. Vishal Garg, of (ironically named) “Better.com”, the Indian-immigrant, American-citizen who co-founded “MyRichUncle.com”, alleged embezzler from the subprime loans, that Vishal Garg ?

Looks like he just ‘learned’ from the situation and ‘apologized’ for that Zoom call:

- "I want to apologize for the way I handled the layoffs last week. I failed to show the appropriate amount of respect and appreciation for individuals who are affected and for their contributions to Better," he wrote. "I own the decision to do the layoffs, but in communicating I blundered the execution. In doing so, I embarrassed you."

He said that he realised "that the way I communicated this news made a difficult situation worse," and that he was "deeply sorry" and "committed to learning from the situation." -

Didn’t he already ‘learn’ how to treat people last November?

- “In Nov 2020, Forbes magazine quoted an e-mail in which he chided employees as "a bunch of DUMB DOLPHINS".-

0 ( +1 / -1 )

Capitalism is like a car you drive that pulls hard right. It still runs otherwise, but you always have to pull the steering handle left to drive straight.

The difference between cars and capitalism is that cars actually work.

-1 ( +1 / -2 )

Visual Garg is a bania so obviously he is stingy with money. Just like that other bania Laxmi Mittal who was once the third richest person in the world.

But these bania's pale in comparison to the biggest bania of them all who has built the world's most expensive house overlooking the slums of Mumbai.

0 ( +0 / -0 )

Covid has been great for these guys, wonder if they will try and encourage the politicians in their pockets to drag it out a bit longer. Good money to be made here!

0 ( +1 / -1 )

Think the U.S.’s employees rights to severance can vary by state in some aspects @zichi 3:30pm. - Can you enlighten us more about the federal statutes that may override state laws regarding these abrupt and inappropriate layoffs?

- @zichi 3:20pm: “In the UK you can't just fire a worker. They must be given notice, one week if paid weekly. One month if paid monthly. Plus outstanding wages and holidays plus redundant payments. Some workers would end up with six months pay.”

1 ( +1 / -0 )

Looks like he just ‘learned’ from the situation and ‘apologized’ for that Zoom call:

Did he apologize over zoom?

0 ( +0 / -0 )

Capitalism is like a car you drive that pulls hard right. It still runs otherwise, but you always have to pull the steering handle left to drive straight.

Never seen that one before. I like it. IMO, and unfortunately, that steering wheel has been hijacked. After the 60’s and 70’s social movements, the elite understood they better make up their own movements to control the young and restless. That’s how we got to LBQWhatever, gay marriage, blue hair, etc. And it was Democrats that did this. It helps them keep the young and restless occupied while dividing the people. Ralph Nader’s run for the Presidency was my last straw. I voted for him, and I still believe the US needs some kind of national health insurance type deal. The Dems tore him apart. It was truly the last chance for the US to steer left, logically and wisely, while getting out of the war mongering. The Dems didn’t want any part of it.

So steering left these days is mostly into social justice campaigns that may feel good and make for great political speeches, but help a very very small % of the population.

1 ( +1 / -0 )

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