Consider This from NPR Pandemic 'Profiteers': Why Billionaires Are Getting Richer During An Economic Crisis
Oct 8, 2020
Anand Giridharadas, author of 'Winners Take All,' critiques the soaring wealth of billionaires during the pandemic, likening it to wartime profiteering. He discusses how figures like Jeff Bezos thrive while everyday Americans struggle. With Chuck Collins noting a rapid rebound for U.S. billionaires, the conversation turns to the ethical obligation of the wealthy. Alan Murray highlights a shift in business leaders toward tackling social issues, raising questions about the responsibilities of billionaires in today's economy.
AI Snips
Chapters
Books
Transcript
Episode notes
Bezos's Bonus
- Anand Giridharadas proposes a hypothetical scenario where Jeff Bezos gives each of his 876,000 employees a $105,000 bonus.
- This would leave Bezos with the same net worth he had at the beginning of 2020, before the pandemic.
Pandemic Wealth Growth
- Billionaires' wealth has increased significantly during the pandemic, despite widespread economic hardship.
- This contrasts with the Great Recession, where their wealth declined and took years to recover.
Billionaires' Rebound
- Billionaires' wealth did decline initially during the pandemic but rebounded much faster than after the Great Recession.
- After the Great Recession, it took over two years for billionaires to recover their wealth.
