The Billionaires’ pandemic

“The world’s richest people have become even richer this year, despite an economic crisis brought on by the coronavirus pandemic. Manuela Saragosa speaks to John Matthews, chairman of private jet company AirX, about the surprising resilience of the private aviation industry despite global travel restrictions. Chuck Collins from the Institute for Policy Studies – a think tank in Washington DC – explains how the richest people in the world have added to their wealth in the pandemic, and what it reveals about inequalities in the US economy.”

The Billionaires’ pandemic

private aviation
a private jet hire company
a dining area
a lounge
first-time users
an influx of new business
record months
spare money
the wealth bracket
the spending power
tax fairness

to surge
declining wealth
this time round
online retail
a race to the bottom
a fair tax regime
be on sm’s side
social discord
to undermine the market
to plug the gap

to see the light of day
wealth accumulation
to surpass the level
to tip in favour of
wage earners
corporate transparency
offshore tax havens
low-income people
a sideshow
to pitch in
social cohesion

Photo by John McArthur on Unsplash