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American billionaires got $434 billion richer during the pandemic
America’s billionaires saw their fortunes soar by $434 billion during the U.S. lockdown between mid-March and mid-May, according to a new report.
Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the biggest gains, with Bezos adding $34.6 billion to his wealth and Zuckerberg adding $25 billion, according to the report from Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality. The report is based on Forbes data for America’s more than 600 billionaires between March 18, when most states were in lockdown, and May 19.



The billionaire gains highlight how the coronavirus pandemic has rewarded the largest and most tech-focused companies, even as the economy and labor force grapples with the worst economic crisis in recent history.

According to the report, the net worth of America’s billionaires grew 15% during the two-month period, to $3.382 trillion from $2.948 trillion. The biggest gains were at the top of the billionaire pyramid, with the richest five billionaires -- Bezos, Bill Gates, Zuckerberg, Warren Buffett, and Larry Ellison -- seeing combined wealth gains of $76 billion.



Elon Musk had among the largest percentage gain of billionaires during the two months, seeing his net worth jump by 48% in the two months to $36 billion. Zuckerberg was close behind, seeing his wealth surge by 46% in the two months, to $80 billion. Bezos’ wealth increased by 31% to $147 billion. Bezos’ ex-wife, MacKenzie Bezos, who received Amazon shares in their divorce, also saw her wealth increase by a third, to $48 billion.

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While industry professionals are debating the implications of the new normal, one thing has become abundantly clear: The worldwide coronavirus crisis that have locked many citizens indoors is also rapidly diminishing the allure of shiny trophy office towers.

As the restrictions associated with the COVID-19 pandemic gradually come to an end, a growing number of private businesses are allowing workers to tele-commute indefinitely — some permanently.



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9-5 Jobs to be abolished as the world gets paid more for less hours worked
And it probably should be. The modern 9-to-5, eight-hour workday was invented by American labor unions in the 1800s and went mainstream by Henry Ford in the 1920s. Workers today are still prepared to accept the same shifts because we have become so accustomed to it. People are much happier when they're living where they want and spending their time doing things they're passionate about.



'Could It Work as a Cure? Maybe.' A Herbal Remedy for Coronavirus Is a Hit in Africa, But Experts Have Their Doubts

The launch of Covid-Organics (CVO for short) in Madagascar last month was no different. Within days, multiple African nations, as well as Haiti, were asking about shipments. And while CVO is not yet available for export, Rajoelina acquiesced by sending samples for free. The promotion of an untested cure sparked consternation among the medical community in Africa, and provoked an unusually sharp rebuke from the WHO, which noted in a statement on May 4 that, “Caution must be taken against misinformation, especially on social media, about the effectiveness of certain remedies. Many plants and substances are being proposed without the minimum requirements and evidence of quality, safety and efficacy.” The use of such untested products, it continued, “can put people in danger, giving a false sense of security and distracting them from hand washing and physical distancing which are cardinal in COVID-19 prevention.”



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