As the United States heads into another wave of COVID-19 infections, billionaires and corporations are raking in billions in wealth and profits. These billionaires, with their surging wealth, should do more to protect their essential workers going into this winter of pain.
This report identifies a dozen companies that have seen their fortunes increase but continue to provide inadequate protection for their workers. These companies are emblematic of the corporate greed that has grown rampant over the last 40 years. These include: Walmart, Amazon, Instacart, Tyson Foods, Target, and Dollar Stores, owned partially by investment giant BlackRock.
- As of November 17, the combined wealth of 647 U.S. billionaires increased by almost $960 billion since mid-March, the beginning of the pandemic lockdown — an increase of nearly $1 trillion in less than a year.
- Since March, there are 33 new billionaires in the U.S.
- Driving this exploding inequality are 12 companies whose profits are coming at the expense of workers and communities. These “Delinquent Dozen” companies are emblematic of the corporate greed that has grown rampant over the last 40 years.
- They include retailers like Walmart, Amazon, Target, and Dollar Tree and Dollar Store, gig economy companies like Instacart, and food producers like Tyson Foods.
- Ten billionaire owners of Delinquent Dozen companies have a combined worth of $433 billion. Since March 18, their combined personal wealth has ballooned by $127.5 billion, a 42 percent increase. These ten billionaires are Jeff Bezos (Amazon), Alice, Rob, and Jim Walton (Walmart), Apoorva Mehta (Instacart), John Tyson (Tyson Foods), Steve Schwarzman (Blackstone), Henry Kravis and George Roberts (KKR), and Steve Feinberg (Cerberus).