Billionaires added $5 trillion to their fortunes during the pandemic
CNN
Billionaires added $5 trillion to their fortunes during the pandemic, according to Oxfam, exacerbating economic inequality as the pandemic pushed millions of people around the world into poverty.
Using data compiled by Forbes, Oxfam says in a new report that the total wealth of billionaires jumped from $8.6 trillion in March 2020 to $13.8 trillion in November 2021, a bigger increase than in the previous 14 years combined. The world's richest 10 men saw their collective wealth more than double, shooting up by $1.3 billion a day.
The report was released ahead of the World Economic Forum's online Davos Agenda, which will take place this week after the group's annual in-person meeting was delayed due to Omicron. Oxfam argues that governments should tax gains made by the super-rich during the pandemic and use the money to fund health care systems, pay for vaccines, fight discrimination and address the climate crisis.
Rapper Kanye West has deactivated his X account, bought an ad that aired during the Super Bowl and is now selling T-shirts with swastikas on his Yeezy website.
Trader Joe’s is limiting the amount of eggs customers can buy because of a supply shortage caused by the avian flu.
President Donald Trump says he has ordered the US Mint to stop making pennies, which he correctly says cost more than one cent to produce.
If you’re confused by President Donald Trump’s tariff plan, you’re not alone.
The Philadelphia Eagles steamrolled the Kansas City Chiefs for a decisive victory in Sunday’s Super Bowl, but the battle for audience attention through ads was in many ways an even tougher fight.
Visits to McDonald’s plunged because of an E. coli outbreak last fall — and so did its profits.
Starbucks is offering a rare perk on Monday: free coffee.
The first return volley in a new trade clash between China and the United States was fired on Monday as Beijing’s tariffs on nearly $14 billion in US imports came into effect.
President Donald Trump announced Sunday that he has instructed Treasury Secretary Scott Bessent to halt the production of pennies, citing the high cost of producing one cent.
President Donald Trump, speaking to reporters on Air Force One Sunday, said he planned on announcing a 25% tariff on all steel and aluminum imports into the United States.
Starbucks is offering a rare perk on Monday: free coffee.
Russell Vought, the newly installed acting director of the Consumer Financial Protection Bureau, sent an email Saturday night ordering all employees at the consumer watchdog to stop virtually all work — including fighting financial abuse.
White House aides have indicated the president’s ubiquity is partly a strategy to impress Republican voters and disorient Democratic opponents.