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I'll take you down the only road I've ever been do
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Eight of Connecticut’s 14 billionaires have seen their wealth increase amid the coronavirus pandemic even as 400,000 people in the state lost jobs, according to a report by a consortium of advocacy groups based on Forbes estimates.

The wealth analysis by the political advocacy groups Americans For Tax Fairness, Health Care for America Now and the Connecticut Citizen Action Group, compares data from Forbes World’s Billionaires List and Forbes real time billionaires estimates between March 18 and June 17 of this year.

The data shows four Connecticut billionaires — investment manager Mario Gabelli, and heirs Karen Pritzker, Alexandra Daitch and Lucy Stitzer — saw their wealth grow by 11.9 percent to 20.5 percent. Bradley Jacobs, the chairman and CEO of Greenwich-based XPO Logistics, a supply chain management company, increased his wealth by more than 42 percent, the database shows.

The report includes data on billionaires in all states, including President Donald Trump, whose $2.1 billion fortune is said to have decreased by about 1 percent this spring. In all, the compilation shows a wealth gain of $536 billion, or 18 percent, for more than 600 U.S. billionaires.


The gains are estimates by Forbes, which bases its figures on publicly available data and its own reporting.

In some ways the gains are not surprising, as the period aligned almost exactly with the recovery of battered stock markets. Dow Jones Industrial Average shot up by 31 percent during the period the groups examined.

Steve Cohen, founder of the hedge fund Point72 Asset Management, grew his wealth by $79 million (about half a percent of his overall wealth), and Vincent McMahon, chairman and CEO of Stamford-based WWE, is now worth an estimated $1.98 billion, a nearly 10 percent increase.


McMahon also jointly owned the XFL football league, which folded and declared bankruptcy after the inaugural season was cut short due to the global health pandemic.

Connecticut’s wealthiest resident, Ray Dalio, founder of the Westport-based hedge fund Bridgewater Associates, saw his wealth unchanged at $18 billion, the report showed.

Pratt, at the Connecticut Citizen Action Group, attributed the wealth increases to “inequitable and unfair tax structures that give billions and billions of dollars to the 1 percent and the wealthiest in this country and continues to impact jobs, funding, schools, infrastructure, livelihoods for so many people, healthcare.”

The groups are pushing for more progressive tax structures, as well as the passage of the HEROES Act, a $3 trillion COVID response plan that passed the House of Representatives in May, but was declared “dead on arrival” in the U.S. Senate according to Majority Leader Mitch McConnell, R-Kentucky.

Pratt said the HEROES Act would provide $7.1 billion in direct aid to Connecticut’s state government, $4.8 billion would be distributed to municipal governments, $1.9 billion would go to federal Medicaid funding and $800 million would fund public schools in the state.

“This report is a stark reminder of the level of inequality in Connecticut. It also makes clear that any austerity arguments are disingenuous when the legislature begins to grapple with Connecticut’s legacy of white supremacy and looming budget challenges,” said Tom Swan, CCAG executive director, in a written statement.

And the rich get richer.
 

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Meanwhile, he still paid himself and his wife Linda $3m in dividends just 2 weeks after releasing 20 people in the middle of a pandemic where they can't get any other work for a while.
Back against the wall and odds
With the strength of a will and a cause
Your pursuits are called outstanding
You're emotionally complex
Against the grain of dystopic claims
Not the thoughts your actions entertain
And, you have proved to be...

A real human being
And a real hero

Real human being
 

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The Covid-19 reaction and fallout is basically one giant wealth transfer from the middle class to the rich. Everyone wanting society to be closed down and all of that, I hope you understand what you're rooting for.
 

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The Covid-19 reaction and fallout is basically one giant wealth transfer from the middle class to the rich. Everyone wanting society to be closed down and all of that, I hope you understand what you're rooting for.
Thats just a nice bonus for the big box stores deemed essential. The real goal was to destroy Trumps economy before the election. Thanks China.
 

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Don't forget,his company save some money because they are not doing live event.
 

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Still leaves Vince a billion down on his net worth two years ago.

Unsurprising really. The XFL caused others to lose money. The company is sitting pretty while that USA and FOX money rolls in and the government do everything to keep the Dow steady. Plus the last quarterly figures were strong and they adapted ruthlessly, plus being deemed essential helped.

End of July, when the next figures come out, will be worth keeping an eye on. The network paid subscriber number might be really bad. Everything else will be nonexistent, highlighting a deep reliance on two deals. More info on sex allegations and how they've handled covid. Might make investors jittery.
 

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I don't get why people are always so upset about Vince being rich.

By all reports he works as hard as anyone I've ever known of, he's a workaholic. His wealth is directly tied to the stock price/value of WWE - and it goes through ups and downs. WWE has taken steps to cut costs during pandemic - as every single industry/company in the world has to.

If he got richer - good for him.
 

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I wonder how low the percentage would have dropped if he invested some of that money into proper testing for his talent that actually make him all the money.
 
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