Billionaire Wealth Hits $10 Trillion For First Time Ever Thanks To Government Stimulous

Coronavirus has boosted total billionaire wealth to its highest level ever. Since the pandemic begun, the total wealth held by billionaires around the world has grown by a quarter to over $10 trillion.

The landmark co-insides with another in the billionaire world, that of the world’s first ever $200 billionaire. Jeff Bezos’s net worth crossed the $200 mark in August, just when UBS and PwC were tallying up the data for its annual report on billionaires.

That report, released on Wednesday (7 October), shows that collective billionaire wealth has grown at its fastest rate over any period over the past decade.

Between April and July, billionaires grew their wealth by 27% from $8 trillion at the beginning of April. This was largely thanks to government stimulus packages.

“Billionaire wealth is loosely correlated with

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Explainer: The $4 trillion U.S. government relies on individual taxpayers

WASHINGTON (Reuters) – The U.S. government’s over $4 trillion annual budget, the world’s largest, relies heavily on individual wage earners whose taxes and retirement benefits are deducted from every paycheck, leaning particularly on the top 20% of income earners.

FILE PHOTO: The Internal Revenue Service (IRS) building is seen in Washington, U.S. September 28, 2020. REUTERS/Erin Scott/

Corporations pay just a fraction of what individuals do into the federal spending pool, which funds the military, transportation safety, veterans benefits, regulatory agencies and programs like NASA.

A New York Times investigation here published on Sunday shows that President Donald Trump paid just $750 in federal taxes during the years straddling his 2017 inauguration, and none at all for 10 of 15 years before then. Trump dismissed the report as “fake news.”

Trump reported here income of at least $594 million for 2016 and early 2017 and assets worth at least $1.4

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The $4 trillion U.S. government relies on individual taxpayers

WASHINGTON (Reuters) – The U.S. government’s over $4 trillion annual budget, the world’s largest, relies heavily on individual wage earners whose taxes and retirement benefits are deducted from every paycheck, leaning particularly on the top 20% of income earners.

FILE PHOTO: The Internal Revenue Service (IRS) building is seen in Washington, U.S. September 28, 2020. REUTERS/Erin Scott/

Corporations pay just a fraction of what individuals do into the federal spending pool, which funds the military, transportation safety, veterans benefits, regulatory agencies and programs like NASA.

A New York Times investigation here published on Sunday shows that President Donald Trump paid just $750 in federal taxes during the years straddling his 2017 inauguration, and none at all for 10 of 15 years before then. Trump dismissed the report as “fake news.”

Trump reported here income of at least $594 million for 2016 and early 2017 and assets worth at least $1.4

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