Since the pandemic began, America’s billionaires have seen their wealth skyrocket to an amount almost equal to a fifth of US GDP. This concentration of wealth is morally unacceptable — but it also represents a mortal threat to democracy. by Luke Savage It’s by now widely understood that the past twelve months have been a tale of two very different pandemics. Amid the countless stories of human misery buried in monthly unemployment figures, reports of widespread hunger, and tragic (though avoidable) deaths of frontline workers, COVID-19 has been a veritable bonanza for the tiny few at the commanding heights of the hyper-financialized global economy. Recent numbers published by the Financial Times underscore just how dramatic these gains have really been: Over the past two decades, as the global population of billionaires rose more than fivefold and the largest fortunes rocketed past $100bn . . . The pandemic has reinforced this trend. As the virus spread