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The Rich Got Richer in the Pandemic. Why?

Summary:
Over 30 million people lost their jobs between mid-March and mid-May, while the wealth of America’s 600+ billionaires ballooned by 4 billion. How did this happen?

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Over 30 million people lost their jobs between mid-March and mid-May, while the wealth of America’s 600+ billionaires ballooned by $434 billion. How did this happen? The Rich Got Richer in the Pandemic. Why?
Wolf Richter
Founder, Wolf Street Corp. In his cynical, tongue-in-cheek manner, he muses on WOLF STREET about economic, business, and financial issues, Wall Street shenanigans, complex entanglements, and other things, debacles, and opportunities that catch his eye in the US, Europe, Japan, and occasionally China.

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