Economics/Class Relations

Massive Redistribution of Wealth to the Billionaire Elite

The Herland Report

Herland Report: Massive Redistribution of Wealth: The Covid-19 virus makes billionaires’ fortune soar with massive profits. Elon Musk is now the richest man in the world, second only to Jeff Bezos – whose fortune also has rocketed during the pandemic.

Bill Gates is left behind, the same goes for Facebook’s Mark Zuckerberg, who a few years ago sat in a student dorm and now rules what seems to be a totalitarian empire.

ZeroHedge writes: According to the Bloomberg’s Billionaire Index, we have seen the richest men alive have their wealth rise 23% – or $1.3 trillion – during the pandemic.

We live in a world where big tech and young boys become the world’s richest, with power to sway opinion in any direction.

The lack of state regulations for the high tech monopolies are dramatic. George Soros also pointed out in an interview with CBS 60 Minutes that the market is in desperate need for better regulations. Yet, the companies he manages are reportedly not registered in the USA. In the interview, he confirms that this is done in order to avoid regulation.

So, governments lose power and private capital takes over the government’s former role?


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