The wealth of United States moguls went beyond $360 billion throughout the pandemic, per The Washington Post..
Oracle and Dells leaders are amongst the other tech billionaires to have benefited last year..
Their wealth has attracted scrutiny in the middle of systemic inequality in the US.
Amazon has considerably profited from people going shopping online during the pandemic. Wealthy customers, who were less likely to end up being out of work during the pandemic, benefitted from an increase in disposable income by remaining at home.Musk, Bezos, and Zuckerberg are not the only billionaires whose wealth swelled. According to Yahoo Finance, Oracles executive chairman and CTO, Larry Ellison, saw his net worth increase from $59 billion to $90.3 billion in the last year.
Facebooks Mark Zuckerberg exceeded the $100 billion mark, while Google co-founders, Larry Page and Sergey Brin got a combined fortune of $65 billion. Apples market capitalisation topped the $2 trillion mark in 2015, making its CEO, Tim Cook, a billionaire, per The Washington Post. Amazon has substantially profited from individuals going shopping online during the pandemic. Consumer need at the beginning of the crisis was so high that the company, in addition to other merchants, faced supply lacks of products such as toilet tissue and disinfectant. As companies shifted to remote-work models, employees relied more heavily on cloud computing services, where consumers rent data storage from companies consisting of Google, Facebook, and Microsoft.
A recent report also showed American billionaires could fund two-thirds of Bidens COVID-19 relief package simply utilizing revenues produced during the pandemic..
Affluent customers, who were less most likely to become jobless throughout the pandemic, benefitted from an increase in disposable earnings by remaining at home.Musk, Bezos, and Zuckerberg are not the only billionaires whose wealth ballooned. According to Yahoo Finance, Oracles executive chairman and CTO, Larry Ellison, saw his net worth rise from $59 billion to $90.3 billion in the last year. This highlighted deep-rooted societal problems of inequality and the ever-expanding wealth gap.
The pandemic has actually been a crisis for many, however not for Americas most affluent billionaires. The wealth of nine of the countrys top tech titans intensified beyond $360 billion in 2015, The Washington Post reported. Amazon founder Jeff Bezos title as the worlds richest individual was challenged as Tesla CEO Elon Musk more than quintupled his wealth and Tesla shares skyrocketed 547% in 2015..