Big Tech executives add over $120 billion to their net worth during Biden’s first 100 days
If you ever needed proof of the power of “Big Tech” then the censorship of the former President Trump and removal of its account from social platforms is a good place to start. A few weeks before the election, Big Tech giants successfully controlled the flow of information across major social platforms and search engines.
A few months earlier, Facebook CEO Mark Zuckerberg and his wife Priscilla Chan donated $250 million to the Center for Tech and Civic Life (CTCL). The money was later spent in four battleground states of MI, MN, PA, and WI to help them process mailed-in ballots and meet sanitation requirements imposed on polling stations in light of the COVID-19 pandemic.
Now, Big Tech’s investments seemed to have paid off. According to a report from Bloomberg Billionaires Index, a tool that trackings the ranking of the world’s richest people, the wealth of the top Big Tech executives grew by at least $150 billion during Biden’s first 100 days. For example, Facebook CEO Mark Zuckerberg, who donated $250 to elect Biden, saw his fortune rose by $19. billion in just 100 days. Tesla CEO Elon Musk’s net worth rose by $5.1 billion during the period.
In addition, Bloomberg also found that the richest 100 Americans saw their wealth grow by $267 billion before Biden’s inauguration if one counts gains since the 2020 election, for a total gain of $461 billion since Nov. 4.
Analyzing the data, the top beneficiaries of Biden’s $1.9 trillion stimulus package have been America’s wealthiest 100 individuals – who’ve tacked on a combined $195 billion to their fortunes during President Biden’s first 100 days in office, according to Bloomberg.