Musk, Bezos, and Zuckerberg have made $115 billion in 2020.
The net worth of Jeff Bezos grew by $63.6 billion, Mark Zuckerberg got $9.1 billion richer, and Elon Musk’s worth rose by $42.1 billion this year.
Tech giants Jeff Bezos, Elon Musk, and Mark Zukerberg on Wednesday will defend their businesses at a Congressional hearing on antitrust worries. Jeff Bezos the Amazon Inc founder, has witnessed an upsurge of $63.6 billion in his net worth this year. As per the Bloomberg Billionaires Index, the world’s richest man is set for another record in his long list of achievements, i.e. to make a fortune exceeding $200 billion. Another giant Mark Zuckerberg of Facebook Inc., will also testify in the hearing and has grown his income by $9.1 billion this year. Elon Musk, the CEO of Tesla, has become richer by making $69.7 billion this year.
Capitalism at its peak in the world:
The staggering numbers in technology are unrivaled in speed and scale. No other set of entrepreneurs have prospered to such a degree, as the Coronavirus pandemic drives more activity online, which is beneficial to these giants. The world’s richest are getting ever richer and even faster, which is a textbook example of capitalism.
The Congressional hearing is set to be a combative affair:
The hearing will be held by video conference and will feature Apple CEO, Tim Cook, along with Google’s Sundar Pichai. Lawmakers have expressed their frustration with how the industry wields its clout, and it is poised to be a combative affair. Bloomberg’s index notes that the collective wealth of tech billionaires (500) has nearly doubled from $751 billion to $1.4 trillion in a space of four years, which is the fastest rise compared to any other sector.
