{"id":177364,"date":"2021-01-18T12:00:28","date_gmt":"2021-01-18T12:00:28","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=177364"},"modified":"2025-01-10T15:08:49","modified_gmt":"2025-01-10T15:08:49","slug":"billionaires-add-1tn-to-net-worth-during-pandemic-as-their-workers-struggle","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2021\/01\/billionaires-add-1tn-to-net-worth-during-pandemic-as-their-workers-struggle\/","title":{"rendered":"Billionaires Add $1tn to Net Worth during Pandemic as Their Workers Struggle"},"content":{"rendered":"<div class=\"css-zjgnrw\">\n<div class=\"css-1ji4n2i\">\n<div class=\"css-1ueujop\" data-print-layout=\"hide\">\n<blockquote><p><em>Companies\u2019 attempts at hazard pay have been paltry and fleeting as employees are threatened for protesting working conditions.<\/em><\/p><\/blockquote>\n<div id=\"attachment_177366\" style=\"width: 510px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2021\/01\/amazon-bezos-workers-capitalism.jpeg\" ><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-177366\" class=\"wp-image-177366\" src=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2021\/01\/amazon-bezos-workers-capitalism.jpeg\" alt=\"\" width=\"500\" height=\"300\" \/><\/a><p id=\"caption-attachment-177366\" class=\"wp-caption-text\">Workers protest outside the Amazon delivery hub in Hawthorne, California.<br \/>Photograph: Val\u00e9rie Macon\/AFP\/Getty Images<\/p><\/div>\n<p><em>15 Jan 2021 &#8211; <\/em>Billionaires in the US have increased their net worth by <a target=\"_blank\" href=\"https:\/\/americansfortaxfairness.org\/issue\/net-worth-u-s-billionaires-soared-1-trillion-total-4-trillion-since-pandemic-began\/#:~:text=December%208%2C%202020%20%7C-,NET%20WORTH%20OF%20U.S.%20BILLIONAIRES%20HAS%20SOARED%20BY%20%241%20TRILLION,%244%20TRILLION%E2%80%94SINCE%20PANDEMIC%20BEGAN&amp;text=The%20collective%20wealth%20of%20America\" s,Monday%2C%20December%207%2C%202020.\" data-link-name=\"in body link\">more than $1tn<\/a> during the coronavirus pandemic, while many of their US workers have struggled with coronavirus risks in workplaces, for little to no extra pay to work in hazardous conditions, and millions of other Americans have struggled to survive on unemployment.<\/p>\n<p class=\"css-38z03z\">The Amazon CEO and founder, Jeff Bezos, <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/business\/2021\/01\/01\/bezos-musk-wealth-pandemic\/\"  data-link-name=\"in body link\">added more than $70bn<\/a> to his net worth during the coronavirus pandemic in 2020, which is now <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/billionaires\/\"  data-link-name=\"in body link\">nearly $185bn<\/a>.<\/p>\n<p class=\"css-38z03z\">As Amazon\u2019s sales have soared, workers at <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/amazon\"  data-component=\"auto-linked-tag\" data-link-name=\"in body link\">Amazon<\/a> and Amazon-owned grocery chain Whole Foods have protested against unsafe working conditions and the pressures to keep up with demand.<\/p>\n<p style=\"text-align: center;\">**********<\/p>\n<div id=\"rich-link-3\">\n<div class=\"css-16cuuq6\" data-print-layout=\"hide\" data-link-name=\"rich-link-0 | 0\" data-component=\"rich-link\" data-name=\"\">\n<div class=\"css-wz7t6r\">\n<div><img decoding=\"async\" class=\"css-ducv57 aligncenter\" src=\"https:\/\/i.guim.co.uk\/img\/media\/c3f6e8d52b1e34b762c28a9dd46eb387ee18d73b\/0_313_4896_2937\/master\/4896.jpg?width=460&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=6606c65450fcb9f3bd44953f0ebacbca\" alt=\"\" \/><\/div>\n<div class=\"css-upffb1\">\n<div class=\"css-m4qltb\">\n<div class=\"css-1gqsble\" style=\"text-align: center;\"><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2020\/dec\/19\/ten-billionaires-reap-400bn-boost-to-wealth-during-pandemic\" >Ten billionaires reap $400bn boost to wealth during pandemic<\/a><\/div>\n<div style=\"text-align: center;\">*************<\/div>\n<\/div>\n<div><\/div>\n<div class=\"css-9g571g\">Several workers who participated in or led protests at Amazon over working conditions have <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2020\/may\/05\/amazon-protests-union-organizing-cracking-down-workers\"  data-link-name=\"in body link\">alleged<\/a> they were fired in retaliation and Amazon is <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2020\/dec\/17\/amazon-fired-warehouse-worker-nlrb-gerald-bryson\"  data-link-name=\"in body link\">fighting<\/a> federal complaints alleging at least two of the firings violated US labor laws.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"css-38z03z\">Profits and stockholder shares have soared through 2020 by billions of dollars, but Amazon has only provided a fraction of those extra earnings in hazard pay and bonuses to workers, according to an <a target=\"_blank\" href=\"https:\/\/www.brookings.edu\/blog\/the-avenue\/2020\/12\/22\/amazon-and-walmart-have-raked-in-billions-in-additional-profits-during-the-pandemic-and-shared-almost-none-of-it-with-their-workers\/\"  data-link-name=\"in body link\">analysis<\/a> conducted by the Brookings Institution.<\/p>\n<p class=\"css-38z03z\">Amazon <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2020\/06\/29\/amazon-gives-front-line-workers-a-500-coronavirus-bonus.html\"  data-link-name=\"in body link\">ended hazard pay<\/a> in June 2020, and instead have provided sporadic one-time bonuses to workers during the pandemic. On average, Amazon workers have seen a $0.99-an-hour pay bump during the pandemic, compared with Bezos\u2019s hourly wealth increase of $11.7m.<\/p>\n<p class=\"css-38z03z\">\u201cWhat they considered hazard pay was just for show,\u201d said an Amazon warehouse employee in Baltimore, Maryland who requested to remain anonymous for fear of retaliation. \u201cWe couldn\u2019t see a difference unless we were willing to work almost 60 hours a week. Several of us had no choice because we\u2019re the breadwinners of our family. It\u2019s infuriating that we live in fear every day because of minimal efforts to protect us, while executives take in tons of money while sitting safely at home.\u201d<\/p>\n<p class=\"css-38z03z\">Jessica Oneto, a Whole Foods employee for four years in Redwood City, California, quit in October due in part to burnout from working conditions during the pandemic.<\/p>\n<p class=\"css-38z03z\">\u201cThey gave us hazard pay for maybe a couple months. It was only $2 and they literally took it away as the pandemic got worse. One of the biggest companies couldn\u2019t afford to keep it up?\u201d Oneto said.<\/p>\n<p class=\"css-38z03z\">Elon Musk, the owner of Tesla Motors, saw his wealth <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2020\/12\/21\/billionaires-who-added-the-most-to-their-net-worths-in-2020.html\"  data-link-name=\"in body link\">surge by more than $140bn<\/a> during the coronavirus pandemic and surpassed Bezos as the <a target=\"_blank\" href=\"https:\/\/www.ibtimes.com\/elon-musk-vs-jeff-bezos-net-worth-tesla-ceo-now-worlds-richest-person-3117414\"  data-link-name=\"in body link\">wealthiest person in the world<\/a> with a total net worth of $195bn.<\/p>\n<p class=\"css-38z03z\">Tesla\u2019s share prices have soared during the coronavirus pandemic, but workers for the company have been subjected to a <a target=\"_blank\" href=\"https:\/\/www.mercurynews.com\/2020\/07\/15\/tesla-has-more-than-130-employees-who-tested-positive-for-coronavirus-report\"  data-link-name=\"in body link\">Covid-19 outbreak<\/a> at the Fremont, California, plant earlier this year when Musk defied local shutdown orders to reopen the plant and restart production.<\/p>\n<p class=\"css-38z03z\">Musk <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2020\/may\/12\/tesla-workers-unemployment-benefits-emails\"  data-link-name=\"in body link\">sent out<\/a> an internal email to all employees implying they would lose unemployment benefits if they didn\u2019t show up to work in defiance of the order, and at least two workers who took unpaid leave due to coronavirus fears for themselves and at-risk family members <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2020\/06\/25\/tesla-plant-firings\/\"  data-link-name=\"in body link\">received<\/a> termination notices for not showing up to work.<\/p>\n<p class=\"css-38z03z\">Salaried employees at Tesla had their pay <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2020\/07\/02\/tesla-ended-reduced-salaries-this-week-says-internal-email.html\"  data-link-name=\"in body link\">reduced<\/a> by 10% to 30% from mid-April to the end of June 2020.<\/p>\n<p class=\"css-38z03z\">\u201cWhile people in cubicles stay home to work, we can\u2019t do that and we don\u2019t get any hazard pay,\u201d said a Tesla employee at the Fremont plant who asked to remain anonymous for fear of retaliation. \u201cNothing has changed. Musk can afford to do so much more and he doesn\u2019t. I find it sickening to see how much Elon Musk\u2019s wealth has grown while we take all the risks. All we get is a \u2018thank you so much\u2019 email.\u201d<\/p>\n<p class=\"css-38z03z\">Another Tesla employee in Fremont cited ongoing mistreatment toward Black workers at Tesla amid <a target=\"_blank\" href=\"https:\/\/www.protocol.com\/tesla-racism-claims-arbitration\"  data-link-name=\"in body link\">several lawsuits<\/a> alleging discrimination at Tesla, which Tesla has <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2018\/11\/30\/business\/tesla-factory-racism.html\"  data-link-name=\"in body link\">disputed<\/a>.<\/p>\n<p class=\"css-38z03z\">\u201cMusk has not once addressed this issue in his workplace or <a target=\"_blank\" href=\"https:\/\/www.protocol.com\/tesla-workers-plan-protest\"  data-link-name=\"in body link\">supported<\/a> Black Lives Matter,\u201d said the worker. \u201cNo hazard pay or bonus. They gave all regular workers their regular raise, but being that I\u2019m maxed out at my position I didn\u2019t get anything.\u201d<\/p>\n<p class=\"css-38z03z\">Billionaire Bill Gates has seen his wealth <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/billionaires\/\"  data-link-name=\"in body link\">increase<\/a> by nearly $18bn through 2020, to $131bn. Though his initial fortune stems from co-founding Microsoft, Gates\u2019s net worth has <a target=\"_blank\" href=\"https:\/\/www.newsweek.com\/bill-gates-net-worth-wealth-since-microsoft-cascade-investment-bill-melinda-gates-foundation-1481482\"  data-link-name=\"in body link\">continued to climb<\/a> through investments; his trust owns significant holdings in companies such as <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/articles\/bill-melinda-gates-trust-bought-amazon-stock-apple-twitter-51590085405\"  data-link-name=\"in body link\">Amazon<\/a> and his investment company Cascade Investments holds <a target=\"_blank\" href=\"https:\/\/money.cnn.com\/quote\/shareholders\/shareholders.html?symb=RSG&amp;subView=institutional\"  data-link-name=\"in body link\">a more than 34%<\/a> stake in the waste management company Republic Services.<\/p>\n<p class=\"css-38z03z\">During the pandemic, Republic Services <a target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/republic-services-rsg-21-2-185606735.html\"  data-link-name=\"in body link\">approved $2bn<\/a> in stock buybacks and <a target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/republic-services-rsg-21-2-185606735.html\"  data-link-name=\"in body link\">paid out<\/a> $387.1m in dividends to shareholders, but the company\u2019s sanitation workers have not received any hazard pay or bonuses, even as residential trash has <a target=\"_blank\" href=\"https:\/\/www.npr.org\/2020\/09\/21\/914029452\/hard-dirty-job-cities-struggle-to-clear-garbage-glut-in-stay-at-home-world\"  data-link-name=\"in body link\">increased<\/a> significantly due to widespread business closures.<\/p>\n<p class=\"css-38z03z\">\u201cThey gave us a couple $25 gift cards early in April or May but that was it,\u201d said Yogi Miller, a sanitation worker for Republic Services in the Akron, Ohio, area. \u201cDuring this time, workers would like to see a little bump in their pay as many people have spouses who have been laid off during this and now they\u2019re a one income family. If we stopped picking up trash for a week or two, people would realize how essential it is the work we do.\u201d<\/p>\n<p>___________________________________________<\/p>\n<p style=\"padding-left: 40px;\"><em>Michael Sainato writes on civil rights issues for the<\/em> Miami Times.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2021\/jan\/15\/billionaires-net-worth-coronavirus-pandemic-jeff-bezos-elon-musk\" >Go to Original &#8211; theguardian.com<\/a><\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>15 Jan 2021 &#8211; Billionaires in the US have increased their net worth by more than $1tn during the coronavirus pandemic, while many of their US workers have struggled with coronavirus risks in workplaces, for little to no extra pay to work in hazardous conditions.<\/p>\n","protected":false},"author":4,"featured_media":57846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[2302,232,1829,1868,555,2305,610,2304,1213,2303],"class_list":["post-177364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capitalism","tag-amazon","tag-capitalism","tag-coronavirus","tag-covid-19","tag-elites","tag-elon-musk","tag-inequality","tag-jeff-bezos","tag-super-rich","tag-tesla"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/177364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=177364"}],"version-history":[{"count":1,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/177364\/revisions"}],"predecessor-version":[{"id":284848,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/177364\/revisions\/284848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media\/57846"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=177364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=177364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=177364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}