Bill Gates, Elon Musk, Jeff Bezos and the rest of the ‘oligarchic dozen’ just reached the ‘Disturbance Milestone’


“Get Rich Rich” doesn’t even start telling the story these days.
According to the Institute for Policy Studies, the wealth of the top 12 billionaires in the US has recently exceeded one trillion dollars – yes, 13 points.
The figure is, of course, an eye-popping figure on its face, made even more in light of the devastation in the wider economy due to the coronovirus epidemic.

“This is a disturbing milestone in American history of concentrated wealth and power,” said Chuck Collins, director of a Washington DC-based progressive think tank. “It is a lot of economic and political power in the hands of only twelve people. From the point of view of a democratic autonomous society, it represents an oligarchic dozen. ”

Since the epidemic first exploded back in the US in March, the “oligarcic dozen” has enjoyed a 40% increase in its combined wealth – or a $ 283 billion increase.
Tesla’s TSLA,
+ 2.65%
Elon Musk has been the biggest beneficiary, with his wealth, as of August 13, triple for $ 73 billion. This does not include a fierce rally in Tesla’s shares on Monday, which pushed Musk to fourth on the Bloomberg Billionaires Index.
See the full list here:

“Omarik Ocampo, a researcher for the IPS program on incompatibility and the common good, said,” The total assets of Oligeric Dozen exceed the GDP of Belgium and Austria. “Meanwhile, millions of Americans are unemployed or live for salaries, and 170,000 people have died in the United States since COVID-19.”
The oligargic dozen started nearly this year, like all others, with the group’s collective assets falling by nearly $ 100 billion from 1 January to 18 March. It did not take long for his net to rebound and overtake September. 2019 levels excluding Warren Buffett BRK.A
+ 1.29%
, Which is still one-two billion less than its year-ago figure.
And it’s not just Bezos and Bunch who have luckily seen him smiling at them. According to an Economic Policy Institute study cited by the Washington Post, CEO compensation, overall, climbed to its highest level in seven years last year, and is positioned to increase once again in 2020. In fact, the pay ratio between CEOs and workers at America’s 350 largest companies has widened from 320 to 1, researchers found.
Meanwhile, many on the “Olygarch” list were making another good move with Amazon AMZN on Tuesday,
+ 3.36%
, GOOGLE ALPHABET,
+ 1.26%
, Tesla and Microsoft MSFT,
+ 0.10%
, All in green. Dow Jones Industrial Average DJIA,
-0.08%
S&P 500 SPX, while lagging behind
+ 0.24%
And Tech-Heavy Nasdaq Composite Comp,
+ 0.53%
Both were pushing high.

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