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Billionaires’ wealth rises to $10.2 trillion amid Covid crisis


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https://amp.theguardian.com/business/2020/oct/07/covid-19-crisis-boosts-the-fortunes-of-worlds-billionaires

The world’s billionaires “did extremely well” during the coronavirus pandemic, growing their already-huge fortunes to a record high of $10.2tn (£7.8tn).

A report by Swiss bank UBS found that billionaires increased their wealth by more than a quarter (27.5%) at the height of the crisis from April to July, just as millions of people around the world lost their jobs or were struggling to get by on government schemes.

“The findings from the UBS report showing that the super-rich are getting even richer are a sign that capitalism isn’t working as it should

merlin_167227542_0d122a5f-fb75-45d8-b028

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A ha ha ha, that looks like Ting Tong from Little Britain. 

Thanks for the morning laugh, just spat my brew out! 😀

Back to the point at hand, can't say I am surprised. I guess the systematic destruction of SMEs will just drive people to the likes of Amazon et al. Where there is chaos there is opportunity.

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https://amp.theguardian.com/business/2020/oct/07/covid-19-crisis-boosts-the-fortunes-of-worlds-billionaires

The world’s billionaires “did extremely well” during the coronavirus pandemic, growing their already-huge fortunes to a record high of $10.2tn (£7.8tn).

A report by Swiss bank UBS found that billionaires increased their wealth by more than a quarter (27.5%) at the height of the crisis from April to July, just as millions of people around the world lost their jobs or were struggling to get by on government schemes.

“The findings from the UBS report showing that the super-rich are getting even richer are a sign that capitalism isn’t working as it should

merlin_167227542_0d122a5f-fb75-45d8-b028

Its a technical boom.  A lot of money retreated fast into lower risk investments.  The low risk but modern funds in my pension - green energy, tech with a foothold have soared, far exceeding the losses on a couple of real estate based funds.  The American stuff is a bit of a sugar rush though, I'm not relying on them staying so high.
Bear in mind these people have teams of people protecting and building their wealth 24x7.

Also currencies are debasing.  What is the typical billionaire's fortune now in Kg of gold compared to March?

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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