27 Nov 2020

Covid-19: US billionaires get even richer

From Morning Report, 6:48 am on 27 November 2020

It's Thanksgiving in the United States, and one group of people that has a lot to be thankful for are American billionaires.

They've accumulated more than US$1 trillion in new wealth since March.

It will be a less cheerful day for many other Americans who have lost livelihoods as a consequence of the pandemic.

Less than half of American households with children are "very confident" they will be able to feed their family this holiday season, according to a survey by the US Census Bureau.

Chuck Collins is a researcher of inequality at the Institute for Policy Studies and has been tracking the collective wealth of American billionaires during the pandemic.