During the first two years of the coronavirus pandemic, a new billionaire was minted every 30 hours, according to a new report by Oxfam International. The report, called “Profiting from Pain”, highlights how the pandemic rapidly widened the gap between the world’s richest and poorest - with 573 of the world’s richest people becoming billionaires during that time.
Meanwhile, the pandemic has created new pharmaceutical billionaires, profiting from the monopolies their companies hold over vaccines, treatments, tests, and personal protective equipment, the report said. “As billionaires gather in Davos, Switzerland, in person for the first time in over two years, they have a lot to celebrate. During the COVID-19 pandemic their mountain of wealth has reached unprecedented and dizzying heights. The pandemic – full of sorrow and disruption for most of humanity – has been one of the best times in recorded history for the billionaire class,” read the report.
Something that people living paycheck to paycheck might sometimes overlook is how the is inevitable if a billionaire has been able to withdraw their money by selling parts of their business off. They take the proceeds from the sale of their original company and from that point it is extremely difficult for them ever to lose that wealth again with just one simple step. If they put that money into purchasing shares of index funds, which diversify them across thousands of companies around the world, and receive the profits from those companies every 3 to 6 months - it supplies a substantial and even growing income to them year after year. Any spare capacity can go to buying more of those shares. Most people have a similar arrangement on a much smaller scale with pension funds, but will be lucky to earn a tiny fraction of what they do.
Well thats the main difference and the reality when it comes to this manner on where those people who do have more funds or simply those millionaires or billionaires would always be having the advantage compared
to those who do have less but doesnt mean that we cant really able to do it on much lower scale but as expected where outcome and results would be entirely different.
This is why people should really be finding ways on how to diversify out their investment or finding more income for them to sustain even though not as big
with those big time people but at least we do able to earn which do make out at least some easing up the situation in terms of financial state.