Collins quoted in Reuters article on growing wealth during pandemic
April 24, 2020
Post Carbon board member Chuck Collins was quoted in this Reuters article on billionaires gaining net worth during the coronavirus pandemic.
From the article:
READ FULL ARTICLE
Even as the broader economy faced a recession, tech and stay-at-home stocks like Zoom (ZM.O) have rallied in recent weeks, due to a surge in usage of video conferencing and remote work technology, thus boosting the net worth of billionaire founders with holdings in those companies.
“This is the tale of two pandemics, with very unequal sacrifice,” said Chuck Collins, a co-author of the report.
During the period between January 1 to April 10 this year, 34 of the nation’s wealthiest billionaires have seen their net worth increase by tens of millions of dollars, the report said.
According to the IPS report, eight of these billionaires including Bezos, Zoom Video Communications Inc founder Eric Yuan and Musk saw a $1-billion jump in their total net worth.