The COVID-19 pandemic made the wealthiest people in the US much richer. While a million Americans died, and we endured the worst health crisis in a generation, the powerful consolidated their financial position. By May 2022, US billionaires’ wealth had grown by $1.7 trillion since the coronavirus crisis began.
A key component of concentrated wealth is real estate, ie, the ownership and management of land and buildings. Controlling real estate has historically been a central piece of gaining and maintaining power. This is no less true today. The richest people in the world use land and buildings as vehicles for hiding their assets and as investments to increase their capital. In doing so, they have weaponized real estate not just to grow their wealth, but to control our communities.
To read the full story click here.