The global coronavirus pandemic COVID-19 creates uncertainty for billions of people around the planet due to the impossibility of knowing how their businesses will function once social isolation measures are complete or for having lost their jobs.
In Argentina, thousands of self-employed and small and medium-sized business owners sharpen their pencils daily to “make numbers” and try to find a way to make the virus as difficult as possible. But the scene is also repeated in every country on the planet.
However, despite the complicated context, and As usually happens in every economic crisis, not all actors in society lose. Even, in some cases, the equation is inversely proportional: the pandemic served to increase their wealth.
Several of the great beneficiaries of the pandemic are owners of companies linked to the world of technology that, prior to the appearance of the coronavirus, they were already millionaires and that from the appearance of the virus, they managed to further increase their accounts.
The CEO of Mercado Libre shared a post that quickly went viral. Who do you “praise”.
Why do they make so much difference? Basically because his companies understood before anyone else the importance of being able to develop work and remote sales.
Signatures such as Amazon, Netflix, Walmart or Zoom whose shares grew exponentially over the past few weeks.
In this context, the founder of Amazon, Jeff Bezos, increased by US $ 24 billion in just 24 hours due to the revaluation of his company, and continues at the top of the ranking of the richest men in the world.
Jeff Bezos, founder of Amazon, and the richest man in the world.
On the other hand, the audiovisual content company via streaming Netflix since the beginning of the quarantine – the first quarter of the year – it added almost 16 million new subscribers.
In this way, the firm’s gross profits during the last three months were US $ 958 million, considerably higher than the US $ 459 million obtained in the same period of 2019.
Reed Hastings and Marc Randolph, founders of Netflix.
While, companies linked to cybersecurity and developers of technologies that allow remote medical care The great opportunity of their lives seems to have come to them.
On the other hand, firms such as Instacart, who make purchases in supermarkets and then make the delivery.
Tech entrepreneurs aren’t the only ones
In this second group of beneficiaries of COVID “risk” loving investors and investment funds appear.
Is about individuals or groups of people who decided to gamble hardly suspected that coronavirus could become a serious problem.
However, even without hard data, there was a small period of time to bet from the first known cases in China in 2019.
One of those people who bet on the development of the coronavirus was Bill ackman, an American investor, investment fund owner Pershing Square Capital Management.
Bill Ackam, venture investor and fund owner
Pershing Square Capital Management.
In the first days of March, when the United States ranged from 150 to 200 cases of coronavirus, Ackman acquired credit protections against his investments.
In this way, he sought protection in case the bag collapsed due to the coronavirus. Ackman estimated that something might happen and paid $ 27 million for insurance, and waited.
As the spread of the virus crumbled collapsing assets everywhere and the risk of default grew and stocks devalued, the value of protection that Ackman acquired continued to rise..
The investor began to liquidate his position near the end of March, once the Federal Reserve (FED) and the US Treasury Department they began to take action on the matter to prevent the collapse.
Ackman completed the sale of all its protections the same day that Congress announced that it would start buying bonds as a measure to lift the slumping market.
Ackman’s total earnings were $ 2.6 billion, or more than $ 1,000 times what was originally invested.
The third group: politicians
Within the beneficiaries also some politicians appear who, through some dubious maneuvers, managed to improve their accounts.
In this way, the names of several senators of the United States appear, on whom accusations weigh of having benefited economically presumably thanks to their position.
One of the cases is that of Richard Burr, Republican Senator for the State of North Carolina.
According to a report by The New York Times, Burr, who heads the Congressional Committee on Intelligence Affairs, sold thousands of dollars in stock in February, just as Donald Trump and other members of his party downplayed the risks of the coronavirus pandemic..
The public network NPR reported that Burr even “warned others” that the economic consequences of the pandemic would be catastrophic, a warning much more severe than those it provided in public.
About the senators Dianne Feinstein, a California Democrat (also a member of the Intelligence Committee), James M. Inhofe, Republican of Oklahoma, and Kelly Loeffler, Republican of the State of Georgia, weigh similar accusations
The indictment is underpinned by a law the United States passed in 2012, called the STOCK Act, which prohibits senators from using classified information to make a financial profit for themselves or their family members.