After the Covid-19 pandemic, the number of American billionaires is increasing, why?

Tài sản của các tỷ phú Mỹ tăng gần 90% trong thập niên qua

The wealth of American billionaires has increased by about 30% in the past 3 years. (Source: Twitter)

Based on Forbes data, the report stated that the assets of American billionaires have increased by about 30% (more than 1,000 billion USD in real value) compared to when the Covid-19 pandemic began to break out in 2020 and increased by 86% compared to 2013.

Oxfam notes that the US now has more than 700 billionaires, nearly 60% more than a decade ago. Meanwhile, about 30% of the US workforce earns less than $15 an hour. These figures show the income gap in the US.

The organization calls for taxing the wealth and income of the richest people to reduce income inequality in the country.

In January 2023, Oxfam also released a report stating that the wealth of the world 's billionaires has doubled in the past 10 years. Accordingly, the wealth of the richest 1% is 74 times higher than that of the poorest 50%.

In addition, billionaires are getting richer amid the cost-of-living crisis caused by the Covid-19 pandemic, as well as soaring food and energy prices due to the conflict in Ukraine.

Since 2020, billionaires have added $2.7 billion to their fortunes every day, while inflation has outpaced the wages of at least 1.7 billion workers worldwide. Oxfam is calling for appropriate taxes to gradually redistribute wealth and reduce extreme inequality.

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