The Treasury Department estimated that $7 trillion will be lost in tax revenue over the next decade.
The SpaceX and Tesla CEO is now the second-wealthiest American with an eye-watering fortune of $170 billion.
Recent findings revealed the fortune of U.S billionaires surged by nearly two-thirds from $3 trillion at the start of the COVID-19 crisis to $4.8 trillion.
A TikTok illustrating a simple graph to show how $2 is "relatively" poor is going viral online
Rihanna, real name Robyn Fenty, has not released an album since 2016, but has still built an empire through brands Fenty Beauty and Savage X Fenty.
The Blue Origin founder wants a NASA contract to help develop a spacecraft that will put humans back on the moon. So far, NASA has only selected SpaceX.
Funk made history when she traveled with Jeff Bezos on his rocket to space on Tuesday.
The Amazon founder's rocket, the New Shepard, will launch on Tuesday, July 20, carrying the youngest and oldest astronauts to fly into space.
Republicans are taking advantage of the Biden administration's refusal to enforce a law designed to make sure stimulus money isn't used for tax breaks.
The billionaire tweeted a photo of him and Elon Musk standing in his kitchen, taken the morning of Branson's inaugural flight to the edge of space.
Facebook CEO Mark Zuckerberg, Apple CEO Tim Cook and Amazon founder Jeff Bezos are among the high-profile executives at the invite-only conference.
Bezos stepped down as CEO of online retail giant Amazon on Monday after 27 years leading the business.
Positive views of capitalism declined by double-digits among young Republicans.
During that same period, inflation caused the federal tipped minimum wage to lose almost half its value.
"Median total compensation for Equilar 200 CEOs was the highest in the study's history, totaling $19.7 million," the Equilar report explained.
"The game is rigged," the former Trump administration official said.
"I continue to believe that the tax code should be changed substantially," Warren Buffett said after it was reported that he paid only 0.1 percent in taxes between 2014 and 2018. "And additionally believe that huge dynastic wealth is not desirable for our society."
"Between them, the nine new billionaires have a combined net wealth of $19.3 billion, enough to fully vaccinate all people in low-income countries 1.3 times," the People's Vaccine Alliance said.
The $1.2 trillion gained by America's wealthiest would be enough for two more payments of $1,400 to every single American with change left to spare.
"This pandemic billionaire wealth surge is a grotesque milestone after three decades of wealth steadily flowing to the top," said Chuck Collins of the Institute for Policy Studies.
The former president has fallen 298 places in the magazine's ranking of billionaires since last year.
The federal minimum wage has not been raised in more than a decade, but Democrats are pushing to increase it to $15 an hour.
Palihapitiya is a corporate-friendly, Third Way centrist, with a sprinkle of social justice rhetoric but also an intense devotion to libertarian free-market triumphalism.
Jeff Bezos' ex-wife has donated nearly $6 billion thus far in 2020, after signing the Giving Pledge following her divorce from the Amazon founder last year.
The report pointed to 12 companies—dubbed the "Delinquent Dozen"—that it said have driven "exploding inequality" in American society.
The wealth of Tesla chief executive Elon Musk skyrocketed 277 percent from March to October. Meanwhile, almost 62 million Americans lost work between March 21 and September 19.
Just days after calling Biden "a servant of wealthy donors," Trump is attending a private, $100,000-per person California fundraiser hosted by tech entrepreneur Palmer Luckey.