The United States of America has more than 600 billionaires who are getting wealthier day by day. Where the Covid-19 pandemic has been the worst nightmare for the normal people, it has been a great way to thrive for the billionaires. Wondering how? Well, Chuck Collins from the Institute for Policy Studies performed an analysis and was awe-struck by the results. According to the analysis, the wealth of American billionaires grew drastically by $1 trillion since March 2020, which in total is a 34 percent increase in the total US billionaires’ wealth as compared to the previous year.
Among the 650 American billionaires, 47 are the new ones that gained enormous wealth during this pandemic. However, 11 billionaires were eliminated from the list because few of them died, and the rest faced financial crises. Jeff Bezos, the world’s richest man, got even richer with a massive wealth gain of $69.4 billion within 6 months, i.e., from March till November. The Amazon owner now has a net worth of $182.4 billion. Followed by Elon Musk at the second place with a fortune gain of as incredible as 413 percent in six months. Other billionaires observing an impressive increase in their wealth during the pandemic include Bill Gates (21.8%), Mark Zuckerberg (85.9%), and Warren Buffett (30.8%).
The American billionaires now own twice the wealth as that of the bottom 50 percent of normal households combined, accounting for around 160 million Americans.
Infographic by: statista