Pandemic profits EXPOSED – how lockdowns help the richest THRIVE
We’ve all heard the stories about local restaurants that won’t be opening back up… and the small, family-run shops that just can’t weather the storm of the current recession.
It looks like the victims of the coronavirus pandemic aren’t just those who get sick from COVID-19… but also hard-working folks that can no longer make a living in this current state of affairs.
It’s a heartbreaking story…
But there’s another side to the financial changes brought on by this latest health crisis.
Because some folks aren’t JUST coming through this whole thing practically UNSCATHED…
They’re CASHING IN.
According to a CNBC money expert back in June, we’re witnessing “one of the greatest wealth transfers in history.”
This isn’t a conspiracy theory – the numbers don’t lie.
Here’s how the rich are getting richer in the time of COVID-19…
And how a net worth in the BILLIONS may be just the beginning for the upper reaches of the 1%.
The Billionaire’s Club
You might be watching the stock market… and breathing a sigh of relief when it appears to rebound.
But when Wall Street numbers tick up, it doesn’t necessarily mean good news for YOU.
Because this time around, it’s the biggest businesses that are RAKING in the dough.
And the BIGGER they are… the BETTER they’re doing.
Not surprisingly, the coronavirus pandemic has been a financial boon to healthcare corporations and the billionaires tied to them.
According to an analysis published earlier this year in Forbes, among the healthcare billionaires that are getting richer off the pandemic include Big Pharma bigwigs like…
- Stéphane Bancel, CEO of vaccine developer Moderna
- Leonard Schleifer, founder of Regeneron Pharmaceuticals
- Seo Jung-Jin, co-founder of Korean biopharma company Celltrion.
Not to mention the fat cats in the diagnostic testing industry…like Alain Mérieux, founder of BioMérieux, and Gustavo Denegri, stakeholder in Italian biotech company DiaSorin…
And don’t forget the co-founder of ventilator maker Mindray Medical International, Li Xiting.
You may not know any of these international billionaires by name…
But in a sick way, their profiting off the pandemic makes sense. The higher the demand for medical equipment, testing, and drug and vaccine development… the bigger the cash influx.
But what about OTHER billionaires… the ones who capture the headlines… and have NOTHING to do with medicine?
I’m talking about Amazon CEO Jeff Bezos, currently worth nearly $180 billion according to Forbes’ real-time tracking…
Or Microsoft founder Bill Gates, worth over $110 billion and rising…or Facebook founder Mark Zuckerberg, worth $88 billion and rising?
Since the pandemic began in March, the Top 5 American billionaires increased their wealth by more than $100 billion.
They’re all members of an ELITE class, whose finances are UNPHASED by what the REST of us are going through.
In fact, they’re SURGING!
Turns out lockdowns are pretty good for online shopping and social media, too.
Now, you may no longer be working… and don’t have to worry about job loss or filing for unemployment benefits…
But it’s YOUR tax dollars that are funding the development of drugs and vaccines that pharma execs are GETTING RICH off of.
Meanwhile, experts say that Social Security funds could be DWINDLING…
And while stock prices for individual corporations may hold steady or even go up… your retirement investments could take a hit if the recession continues.
I don’t have the answers today. But I promise to keep digging into this and sharing what I find with you.
To exposing the deep pockets getting deeper,
Melissa Young
