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11 Vol.1, Issue 22, August 2020 ELITE

COVID19 MAKING SOME RICHER !

Ahmed Adel Al-Saudi

dollars since the start of the Coruna virus outbreak
The global economy has suffered a severe crisis in the
around the world, to reach 87.8 billion dollars, and
past months after the outbreak of the Corona virus. With
this figure mentioned by Business magazine Insider
the beginnings of the crisis, the Dow Jones and FTSE
was on publication date, and on July 13th,
indices achieved their biggest one-day drop since 1987.
Zuckerberg's fortune was $ 93 billion, according to the
The crisis affected safer investments that investors resort
to in times of crisis, such as gold. Its prices fell briefly in Bloomberg Index.
March, and oil prices fell to a level that has not occurred
Leading the lead is Jeff Bezos, owner of The
since June 2001, and according to the Organization for
Economic Cooperation and Development (OECD), there Washington Post, founder of Amazon and the richest
man in the world, whose wealth has increased
are warnings that the International Economy will suffer
dramatically due to online shipping, and on July 13, $
the largest decline in growth since the financial crisis in
2009. 189 billion, according to the Bloomberg Index. The
large rise in Bezos’s fortune is due to the huge gains
made by Amazon, the technology and retail giant,
But it is noticed that the wealth of some businessmen
increased very significantly. According to the British after increasing customer demand due to the embargo
and people being forced to stay at home.
Guardian newspaper, between March 18 and June 11,
the combined wealth of all billionaires in the United
In Asia, the wealth of Indian businessman Mukesh
States increased by more than 637 billion dollars, to
Ambani has jumped after Facebook announced that it
reach a total of 3.581 trillion dollars, which is more than
will invest $ 5.7 billion in Reliance Jio, a
the total wealth Latin American population.
communications company of a giant group founded by
The wealth of the five largest billionaires of America,
Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Ambani's father. The company’s shares rose and
Ambani’s wealth jumped, and this investment made
Buffett, Larry Ellison, increased their wealth by $ 101.7
Ambani the richest person in Asia again, with a value
billion between March 18 and June 17, in the same
period in which about 44 million American citizens lost of $ 70.2 billion. Thus the technology sector topped
the scene and was not affected by the epidemic and
their jobs.
most of the winners are the big business owners and
According to the American "Business Insider" magazine, shareholders of technology companies in the world.
Facebook CEO Mark Zuckerberg became the third
richest man in the world, after his wealth increased by
30 billion
Vol.1, Issue 22, August 2020