Billionaires, Gafam, China … They are the big winners of the Covid

Not everyone will have such bad memories of the years 2020-2021, which saw global activity fall (-8.3% in France in 2020). Billionaires are the big beneficiaries of central bank liquidity spills to support the economy. But they’re not the only ones smiling.

  • Billionaires richer than ever

It’s a paradox: a year after the start of the biggest global crisis since that of 1929, stock market indices no longer take the problem into account. Economic activity collapsed 4.9% in industrialized countries, but after a spring panic, stock markets returned to their February 2020 level, as if all was well.

In France, some titles have even taken a leap forward: luxury giant LVMH has climbed more than 25% and L’Oréal by 16%. Enough to further enrich their respective owners, the Arnault and Bettencourt families, as well as all the other shareholders. “French billionaires […] earned nearly 175 billion euros between March and December 2020, exceeding their pre-crisis level of wealth. It is the third strongest progression, after the United States and China ”, explains a report from the NGO Oxfam (“the Inequalities Virus”).

Esther Duflo: “The poor are the biggest losers from the crisis”

The 10 richest men on the planet earned 540 billion dollars over the same period, according to Oxfam, while it will take a good d

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