Business

It’s time for centibillionaires to help pay the cost of Covid

In a dramatically unequal society, a one-off wealth tax provides a clear and decisive route to balancing the Treasury’s booksEven before the coronavirus pandemic struck, the divisions between the super-rich and the rest of society were growing increasingly extreme. But as the virus infects the world economy, plunging millions into unemployment and pushing finances to breaking point, those divisions are set to get worse.Last
Source: https://www.theguardian.com/technology/2020/aug/07/facebook-boss-mark-zuckerberg-joins-centibillionaire-club

The 36-year-old follows Jeff Bezos and Bill Gates as fortune passes $100bn for first timeMark Zuckerberg’s fortune has passed $100bn (£76bn) for the first time, adding him to an exclusive club of the world’s centibillionaires, after Facebook’s shares surged on news it is to launch a rival to the video-sharing app TikTok.Facebook announced the US rollout of Instagram Reels, its answer to the Chinese app TikTok, as the US president, Donald Trump, issued bans on American companies transacting with its parent company, ByteDance, and Tencent, which owns the WeChat messaging service.
Source: https://www.theguardian.com/business/2020/aug/09/centibillionaires-help-pay-costs-covid-wealth-tax

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