Billionaires profit from a pandemic!

US billionaires saw their collective wealth increase by $282 billion in the first twenty-three days of lockdown.

By Haritha Olaganathan

US billionaires saw their collective wealth increase by $282 billion in the first twenty-three days of lockdown.

Facebook’s CEO Mark Zuckerberg is the biggest financial reaper, as shares in the social media company have surged by almost 60% over the past two months. Another profiteer includes CEO of Amazon Jeff Bezos, whose wealth has increased by $25 billion since April 15th 2020. Bezos, the richest man in the world, currently boasts a net worth of $146.9 billion, and is expected to become the world’s first trillionaire by 2026. 

Whilst the super-rich manipulate this pandemic to churn out maximum profits, billions of workers are subject to inhuman levels of pay and gruelling working conditions. Covid-19 has provoked workers at Amazon to organise against their sickening treatment, notably walking out of warehouses to demand proper PPE and hazard pay as part of May Day protests.

Total
0
Shares
Previous Article

Mental health: We can’t tolerate the intolerable

Next Article

Working-class solidarity in a time of crisis

Related Posts
Read More

Year one of capitalism’s Covid crisis

Stepping back to assess the damage of the first year of the coronavirus pandemic is sobering. As of March 2021, there have been 123 million confirmed cases and a staggering 2.7 million deaths worldwide. That’s equivalent to the entire population of Chicago city or Manchester being wiped out in the space of a year. If there was any doubt about the ferocity of Covid-19 as a disease, these figures, which are undoubtedly an underestimation and in any case only a snapshot in a rapidly escalating total, speak to its real, unabating threat.

Read More

Covid crisis: Precarious conditions of agency workers exposed

Early last week, word began filtering out that agencies which are employed to fill vacancies across the public sector - namely Grafton and Premiere - had sent emails to their workers telling them, “In the event of your workplace closing, your placement is finished”. Furthermore, agency workers were told that, in the event of them falling ill or choosing to self-isolate to protect themselves or loved ones, they would receive only the meagre statutory sick pay (SSP) of £94/week, as opposed to the full pay that had been guaranteed to permanent public sector workers.