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Thursday, August 6, 2020

Donald Trump says there is ‘too much income disparity’ in the US as he shares video of Jeff Bezos

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Donald Trump has hit out at America’s tech billionaires, saying there is ‘too much income disparity’ in the US, as he shared a video clip on Amazon CEO Jeff Bezos’s multibillion-dollar fortune.  

Trump on Saturday said ‘changes must be made soon’, after tweeting a Business Insider video showing how the country’s richest tech execs have only grown richer during the coronavirus pandemic. 

Meanwhile, 40million Americans have filed for unemployment.  

Trump on Saturday said there was 'too much income disparity' in America after tweeting a video on Jeff Bezos's enormous wealth

Amazon CEO Jeff Bezos

Trump on Saturday said there was ‘too much income disparity’ in America after tweeting a video on Jeff Bezos’s enormous wealth  

The president shared a Business Insider report which showed how Bezos and other tech billionaires have increased their profits during the coronavirus pandemic

The president shared a Business Insider report which showed how Bezos and other tech billionaires have increased their profits during the coronavirus pandemic 

The report showed Bezos, the world’s richest man who is worth $117billion, raked in a whopping $48billion between March and June.

At the same time, Zoom CEO Eric Yuan saw his income increase by $2.5billion, while former Microsoft chief and now LA Clippers owner Steve Ballmer made an extra $15.7billion. 

Collectively, America’s billionaires made a total of $637billion during the height of a global health crisis that has otherwise destroyed the economy, according to BI.  

‘I actually agree with this. Too much income disparity! Changes must be made, and soon!’ Trump said on Twitter. 

The president’s comments come days after a high-profile congressional hearing  during which lawmakers accused Amazon, Facebook, Apple and Google, of crushing rivals to boost profits. 

Report showed Bezos's net worth increased a whopping $48billion between March and June

Report showed Bezos’s net worth increased a whopping $48billion between March and June

Bezos, the world's richest man, has been criticized over his immense wealth

Bezos, the world’s richest man, has been criticized over his immense wealth

America’s largest tech firms have come under fire over the years, as some say the companies have too much power and should be regulated by the government. 

Bezos, in particular, has also been criticized over his immense wealth, as many believe it’s contributed to the country’s income disparity issue. 

It also comes amid mounting pressure for Republicans and Democrats to finalize a deal for a fourth stimulus package after the government’s $600-per-week unemployment benefits expired this week. 

Trump on Thursday promised he would push for Congress to include in the fourth COVID-19 stimulus package another round of checks for Americans – similar to the $1,200 checks that were circulated, and signed by the president, earlier this year.   

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