On Donald Trump: A man and his wealth

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Article by Karamo Muchuri Sulieman republished from People’s World under http://creativecommons.org/licenses/by-nc-nd/3.0/us/.

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U.S. Presidents have been known for their wealth. George Washington was one of the wealthiest men of his day and a slave owner. The vast estate of Mt. Vernon accounts for a considerable amount of wealth for his day. When the current price of land and livestock is added, it is difficult to ascertain. However, reliable sources say that George Washington’s assets upon entering the presidency, adjusted for inflation, were approximately $594 million in today’s money. About the only good thing one can say about this vast estate is that one part did not wish to be counted, and that was due to Ona Judge, who refused to be his slave and escaped to New Hampshire. They say Washington’s salary alone was approximately worth 2% of the national budget. In terms of relativity, it would amount to billions of dollars. 

Perhaps Donald Trump is a little better than George Washington. No, he did not dispatch the Secretary of the Treasury to bring back an escaped slave. Yet he presides over a nation with a minimum wage of $7.25, at a time when the average rent for a one-bedroom apartment ranges from $1,510 to $1,642. Many readers believe fast-food workers work 40  hours a week, when in reality many only work 30 hours, and some only work during lunch time for only 15 hours. Perhaps this is the modern-day version of chattel slavery. But reports vary: some say Trump’s personal fortune has risen from $1 billion to $4 billion. Some reporting estimates even more. 

In an article by Jenny Smyth, Trump entered his first term of office with a net worth of $2.3 billion, and now has a net worth of $6.5 billion. Perhaps it was due to his aggressive purloining of Venezuelan oil. If it didn’t go to China, it had to go somewhere, right? Maybe it was due to his sons, Donald Trump Jr. and Eric Trump, perfect management of his affairs… However, it seems that the President has used investment brokers. 

While Donald Trump, according to U.S. law, has every right to trade on the U.S. market, this right seems to smack of gross immorality given his enormous cuts to SNAP and social security. People are earning less, and with DEI on the President’s hit list, African Americans appear to be targeted for further wage cuts. He seems to have no respect for the law or humanity. He has increased the ferocity of the Cuban blockade and has threatened military action against her. I suppose Greenland had to make a deal. Trump appeared to make some political profit for his billionaire alliance. While, according to the Western media, he has not made any profit in Greenland,  his billionaire colleagues Bill Gates and Jeff Bezos have invested in Greenlandic mining operations. This is not nearly as lucrative as the gift of the luxury jet from the Qatar government. The opulent Boeing 747-8 will undergo modifications at L3Harris Technologies before entering service for presidential (Trump’s) use. The plane is said to be scheduled to make its debut on the Fourth of July in honor of the nation’s 250th birthday.

However, the president’s latest financial maneuvers have left a good portion of the public aghast. It seems the president has made active stock trades influenced, or at least guided, by his governmental decisions. According to Wion, the disclosures show around 3,600 to 3,700 stock and ETF transactions from January to March. The reported value of these transactions ranges from $220 milion to $750 million, all this while there is massive hunger and deprivation suffered by the working class—in particular minority groups—within the United States of America. 

Many of the stocks were made by the government for defense, government private contracts, and other concerns that required direct government involvement. For example, NBC News said in February and March that the president purchased stock seven times. On January 12, President Trump purchased  $100,000 to $250,000  worth of Oracle stock on the same day he finalized a U.S.-backed deal for a stake in TikTok.  From January through March, President Trump purchased DoorDash stock twelve times, around the same time he held an event with a DoorDash representative being praised at the White House. On January 6, the President purchased $500,000 of Nvidia Stock, and shortly after, on January 14, he approved a US-backed deal for Nvidia to sell chips to China. The president invested heavily in Palantir Industries, a defense contractor that builds AI-driven strategies for defense from “space to mud.” The stock has dropped 25% while the President has urged investors to buy on Truth Social. 

While the President has the right to purchase, the cry has grown louder for stricter controls to prevent insider trading and self-profit and gain by influential politicians. There is an imbalance in the system. The President cannot be allowed to make billions while many of his fellow Americans starve.

As with all op-eds published by People’s World, the views reflected here are those of the author.

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Article by Karamo Muchuri Sulieman republished from People’s World under http://creativecommons.org/licenses/by-nc-nd/3.0/us/.

Climate science denier Donald Trump confirms that he knows nothing about democracy and that more liquid gold is being secured according to his policy of global privateering.
Climate science denier Donald Trump confirms that he knows nothing about democracy and that more liquid gold is being secured according to his policy of global privateering.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.

Continue ReadingOn Donald Trump: A man and his wealth

Bill Gates Gave $3.5M to Think Tank Run by Climate Crisis Denier Bjorn Lomborg 

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Original article by Rei Takver republished from DeSmog.

Left, Bjorn Lomborg speaks at the Alliance for Responsible Citizenship Conference in 2023. Credit: ARC Forum, C0 Right, billionaire Microsoft founder and philanthropist Bill Gates. Credit: DOE/Ken Shipp, C0

Tax records reveal that the billionaire’s foundation has donated for years to Lomborg’s Copenhagen Consensus Center.

Bill Gates’ charity has donated more than $3.5 million to a think tank run by the Danish academic and climate crisis denier Bjørn Lomborg, according to U.S. tax records reviewed by DeSmog.

The donations, which were made between 2017 and 2022, were listed on IRS 990 Forms filed by the Gates Foundation. Those donations went to the Copenhagen Consensus Center, which describes itself as a “think tank that researches the smartest solutions for the world’s biggest problems, advising policy-makers and philanthropists how to spend their money most effectively.”

The center was created by Lomborg, who for years has argued in op-eds, lectures, and broadcast media that there are more important global issues to prioritize than climate change, writing in April that “it is not the existential threat that some would have us believe.”

Those views align closely with a controversial memo Gates recently published during the lead-up to the United Nations COP30 climate summit in Belém, Brazil, in which the philanthropist, who is worth an estimated $118 billion, argued that climate change “will not lead to humanity’s demise.”

The Microsoft founder and longtime public health philanthropist claimed that a “doomsday outlook” about the future of the climate is “causing much of the climate community to focus too much on near-term emissions goals” and that is “diverting resources from the most effective things we should be doing to improve life in a warming world.”

Gates’ “tough truths” post came on the heels of the United Nations Secretary General António Guterres noting that it is now “inevitable” that the world is on track to at least temporarily burst past the 1.5 degrees C (2.7 degrees F) warming target of the Paris Agreement, with “dramatic consequences.”

Gates’ arguments have drawn outcries of dismay from some of the world’s top climate scientists, who have pointed out that “this memo is already being championed by those seeking to misinform and sow doubt about climate change and delay climate progress–up to and including the executive branch of the United States government.”

But Lomborg is full of praise for the billionaire who has frequently donated to his think tank.

“Revolutionary climate truth: @BillGates nails it,” he posted on X.

Bjorn Lomborg praises Bill Gates' climate memo in a tweet on X:"Revolutionary climate truth: "@BillGates nails it for Brazil #COP30"
Bjorn Lomborg praises Bill Gates’ climate memo in a tweet: “Revolutionary climate truth: @BillGates nails it for Brazil #COP30”

The Gates Foundation and the Copenhagen Consensus Center didn’t respond to a request for comment.

“He’s read some of my stuff”

In total, the Gates Foundation (formerly known as the The Bill & Melinda Gates Foundation) has donated $3,519,491 to Lomborg’s think tank. The most recent tax filing on record includes a 2022 donation to the Copenhagen Consensus Center worth $1.25 million, which went to support “community engagement grantmaking.”

Lomborg’s center credits the Gates Foundation with providing “financial support” for a 2021 report identifying development priorities for Africa. That report ranked climate solutions such as “resilience to drought” and “solar energy for unreliable grids” in the bottom third of a list of investment opportunities for the continent.

The report ranked objectives such as “family planning,” “R&D for agricultural yield increase,” and “tobacco control” at the top of the list. “All other things equal, the policies producing high returns should be funded before the ones with low return,” it noted.

Africa faces unfairly high costs to adapt to climate extremes, such as droughts, heatwaves, and floods, according to a 2024 World Meteorological Organization report.

The relationship between Lomborg and Gates goes back at least as far as 2014.

That year, DeSmog reported that Gates had published a blog post promoting Lomborg’s views. In the post, Gates argued that as rich countries “push to get serious about confronting climate change,” telling poorer countries not to rely on fossil fuels is wrong.

“For one thing, poor countries represent a small part of the carbon-emissions problem. And they desperately need cheap sources of energy now to fuel the economic growth that lifts families out of poverty. They can’t afford today’s expensive clean energy solutions, and we can’t expect them wait for the technology to get cheaper,” Gates wrote.

Alongside Gates’ 2014 post was a “GatesNotes”-branded video where Lomborg said it was “hypocritical” for the developed world to deny poor countries access to fossil fuels when so much of the developed world is still fueled on them. 

In the video, Lomborg can be seen climbing a staircase with the words “Fighting poverty with fossil fuels” painted behind him.

This GatesNotes video shows Lomborg climbing a rusty outdoor staircase against a brick and metal backdrop with the words "Fighting poverty with fossil fuels."
Bill Gates was featuring the work of climate crisis denier Bjorn Lomborg at least as far back as 2014. This GatesNotes video shows Lomborg against a backdrop with the words “Fighting poverty with fossil fuels.”

As recently as 2023, Lomborg co-authored a GatesNotes post with Gates arguing that the UN Sustainable Development Goals are “too much of a good thing” because they say the world is not “stepping up to fund all of them.”

In response to the October 28 Gates climate memo, Lomborg told Newsweek that “I’ve met with Mr. Gates himself several times. He’s read some of my stuff.” However, Lomborg did not directly take credit with influencing Gates’ views in the “Three Tough Truths about Climate” memo.

Deniers Celebrate Gates

Shortly after the memo’s release, U.S. President Donald Trump declared on his social media platform Truth Social: “I (WE!) just won the War on the Climate Change Hoax. Bill Gates has finally admitted that he was completely WRONG on the issue. It took courage to do so, and for that we are all grateful. MAGA!!!”

Trump is not alone in his celebration. Several long-time climate crisis deniers are cheering the statement from Gates, including Robert Bradley of the Institute for Energy Research, a nonprofit that attacks renewables and criticizes decarbonization plans.

Alex Epstein, who himself has cited Lomborg as an influence, said last week that “we should celebrate that Bill Gates has seen the light.” Epstein, the “fossil fuel philosopher” who helped shape the clean energy cuts in Trump’s domestic policy bill, claimed that Gates’ memo is in part a response to a Trump administration that “that is pro-fossil fuel and very anti-climate catastrophist.”

Gates’ backsliding on climate is not just words, it’s money and resources. For instance, in March, he made deep cuts to the climate policy staff of Breakthrough Energy, the “clean energy” organization he founded in 2015 and whose work he touted in his October 28 memo.

Explaining his “pivot” on climate change during an interview on CNBC, Gates said, “I’ll let the temperature go up 0.1 degree to get rid of malaria. People don’t understand the suffering that exists today.” Afterwards, Lomborg took to X to praise Gates, writing, “Exactly right!”
 
 Arguments like this have garnered sharp criticism from climate leaders.
 
Gates is wrong to frame climate change and human well-being as disconnected, zero-sum issues, argues climate scientist Katharine Hayhoe. “We are nowhere near maxing out investment in & implementation of [solutions] that benefit people, health, climate and nature at the same time,” the Texas Tech professor and chief scientist at The Nature Conservancy posted on Bluesky. “[The climate, pollution, and nature crises] are already actively amplifying poverty, hunger, and division.”

“There is no greater threat to developing nations than the climate crisis,” Michael Mann, University of Pennsylvania climate scientist, told CNN in response to the Gates memo. “He’s got this all backwards.” 
 
 

Original article by Rei Takver republished from DeSmog.

Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.
Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.
Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.
Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.
Continue ReadingBill Gates Gave $3.5M to Think Tank Run by Climate Crisis Denier Bjorn Lomborg 

Top 19 ‘Truly Superwealthy’ US Families Grew $1 Trillion Richer Last Year: Analysis

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Original article by Jake Johnson republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Lauren Sanchez, Amazon founder Jeff Bezos, Priscilla Chan, and Meta CEO Mark Zuckerberg attend President Donald Trump’s inaugural ceremony on January 20, 2025. (Photo: Brendan Smialowski/AFP via Getty Images)

Families including Elon Musk, Jeff Bezos, and Mark Zuckerberg now control a combined $2.6 trillion in wealth, according to renowned economist Gabriel Zucman.

A new analysis by a leading chronicler of the United States’ exploding inequality shows that the 19 richest American households added $1 trillion to their collective fortunes last year and saw their share of the nation’s wealth jump at a record-shattering pace.

The analysis by Gabriel Zucman, a professor of economics at the University of California, Berkeley, estimates that the 19 wealthiest U.S. families now control 1.8%—or $2.6 trillion—of the nation’s total household wealth.

In 2024, those ultrarich households saw the largest single-year wealth increase on record.

The Wall Street Journal noted in its Wednesday write-up of Zucman’s analysis—based on data from Forbes, Fortune, and the Federal Reserve—that the families in his “research on the top 0.00001% in the U.S. are worth at least $45 billion per household and include Elon Musk, Jeff Bezos, Mark Zuckerberg, Bill Gates, Warren Buffett, and private-equity investor Stephen Schwarzman.”

Their wealth is largely tied up in the U.S. stock market, which rose more than 23% in 2024. The richest 10% of U.S. households control 93% of stock market wealth, according to the Federal Reserve.

(Source: Gabriel Zucman via The Wall Street Journal)

Zucman, whose analysis dates back to 1913, told the Journal that the U.S. has recently seen a “dramatic acceleration in the rise of the share of wealth owned by the truly superwealthy”—a trend that would continue if President Donald Trump and the Republican-controlled Congress pass tax legislation largely benefiting the rich.

“If there’s one glimmer of hope it is this,” Zucman wrote on social media last month, pointing to a packed “Fighting Oligarchy” rally held in Denver by Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.).

“There is a strong anti-oligarchic current in America, and it has a formidable champion,” Zucman added. “Fight!”

The Journal reported Wednesday that “a household in the top 0.1%—roughly 133,000 households each worth at least $46.3 million—accumulated an average of $3.4 million a year since the third quarter of 1990, in 2024 dollars.”

“In comparison, the wealth of the rest of the top 1%—roughly 1.2 million households each worth at least $11.2 million—grew by an average of $450,000 per household, per year,” the Journal added.

Meanwhile, families at the bottom of the U.S. income and wealth distribution have struggled due to what the Economic Policy Institute recently described as “policy-induced wage suppression.”

A February working paper by the think tank RAND estimated that the bottom 90% of U.S. workers would have earned $3.9 trillion more in 2023 alone had the income distribution been more even rather than flowing disproportionately to the top.

“Since 1975, nearly $80 trillion in wealth has been redistributed from the bottom 90% of Americans to the top 1%,” Sanders said last month in response to the paper. “The massive income and wealth inequality in America today is not only morally unjust, it is profoundly damaging to our democracy.”

Original article by Jake Johnson republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Orcas discuss Donald Trump and the killer apes' concept of democracy. Front Orca warns that Trump is crashing his country's economy and that everything he does he does for the fantastically wealthy.
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
Continue ReadingTop 19 ‘Truly Superwealthy’ US Families Grew $1 Trillion Richer Last Year: Analysis

‘Unsettling New Milestone’: Top 12 US Billionaires Now Control $2 Trillion in Wealth

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Original article by Eloise Goldsmith republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).

Jensen Huang of Nvidia speaks about the future of artificial intelligence and its effect on energy consumption and production at the Bipartisan Policy Center on September 27, 2024 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)

“The oligarchic dozen is richer than ever, and they are endowed with extreme material power that can be used to pursue narrow political interests at the expense of democratic majorities,” according to the author of a new analysis.

Just 12 U.S. billionaires now have a collective net worth of over $2 trillion—a figure that amounts to a little less than a third of total federal spending in 2023—according to an analysis out Tuesday from Inequality.org, a project of the Institute for Policy Studies (IPS).

The $2 trillion number is also twice the amount of wealth that the top 12 US billionaires held in 2020, according to researchers at IPS, a progressive organization.

The full list of 12 billionaires includes Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett, Elon Musk, Steve Ballmer, Larry Ellison, Larry Page, Sergey Brin, Jim Walton, Rob Walton, and Jensen Huang.

“This is an unsettling new milestone for wealth concentration in the United States. The oligarchic dozen is richer than ever, and they are endowed with extreme material power that can be used to pursue narrow political interests at the expense of democratic majorities,” wrote the author of the analysis, Omar Ocampo, a researcher at IPS.

New to the “oligarchic dozen” is Jensen Huang, the co-founder and CEO of the tech company Nvidia. Nvidia, which became the most valuable publicly traded company this year, has seen its profits jump thanks to the world’s ravenous appetite for the artificial intelligence chips that the firm produces. According to the analysis, Huang’s personal wealth “has skyrocketed from $4.7 billion in 2020 to $122.4 billion—a mind-boggling 2,504 percent increase—over the last four years.”

Each of the billionaires on the list “owns or is a controlling shareholder of a business that is investing billions of dollars in artificial intelligence,” according to Ocampo, which raises concerns about their respective carbon footprints.

Fueling AI is energy intensive, and AI data centers in the U.S. are largely powered by fossil fuels, meaning their proliferation poses a threat to the environment and a transition to a green economy.

Ocampo also discusses the political reach of the billionaires on the list. Elon Musk and Jeff Bezos, who respectively own X and The Washington Post, “have both purchased large media platforms, which has granted them the ability to set the terms of public debate with the hopes of influencing public opinion in their favor.”

Musk specifically has established himself as a major power broker within the GOP. The billionaire spent hundreds of millions helping to re-elect Donald Trump and is now poised to play a major role in the president-elect’s administration, helping oversee a new advisory committee tasked with slashing government spending.

As of early December, Trump had tapped an “unprecedented” total of seven reported billionaires for key positions in his administration, according to a separate piece of analysis by Inequality.org.

“We see the effects of this growing concentration of wealth and economic inequality everywhere—plutocratic influence on our politics, wealth transfers from the bottom to the top, and the acceleration of climate breakdown,” Ocampo wrote on Tuesday.

Original article by Eloise Goldsmith republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).

Continue Reading‘Unsettling New Milestone’: Top 12 US Billionaires Now Control $2 Trillion in Wealth