The pandemic obviously hasn’t had a negative financial impact on everybody. This includes tech giants who have a tendency to market their own often unsafe products to everyone from cradle-to-grave while taking extreme measures to keep their own kids away from them.
Bill Gates has continued to invest in unsafe tech regardless of expert warnings and opposition. Elon Musk continues to manufacture and promote unsafe products being operated on earth and in space. Mark Zuckerberg has been in all kinds of trouble but continues to stay on top. Same with Jeff Bezos who has recently been the subject of a very unflattering PBS Frontline documentary. But I digress.
The unemployment rate and the COVID-19 case count continue to soar, but the stock market is faring a bit better. The Dow Jones Industrial Average and the S&P 500 both surged by more than 12% in the week ending April 9. (The markets closed on April 10 for Good Friday). Stocks made a notable jump on Thursday as the Federal Reserve announced $2.3 trillion in loans to support the economy. The market gains led to a combined $51.3 billion boost for 10 of the world’s billionaires since the market closed a week ago, on April 2.
See the list of the world’s 10 biggest billionaire gainers this week HERE.
Apparently, we are not “all in this together.”