If the financial markets had suffered a heart attack in March 2020, most of the world would have suffered, but the benefits of the recovery were distributed unequally. Worldwide, the wealth of billionaires rose by $1.9 trillion in 2020, with $560 billion of that benefiting America’s wealthiest people.57 Among the surreal and jarring juxtapositions of 2020, the disconnect between high finance and the day-to-day struggles of billions of people around the world stood out. —
