U.S billionaires gain half a trillion dollars during outbreak


Even as more than 42 million people have signed on as unemployed in the US, the countries billionaires have added half a trillion dollars to their combined wealth, according to a think tank report.

During the 11 weeks from March 18, when U.S. lockdowns started, the wealth of America’s richest people surged by over $565 billion, the Institute for Police Studies calculated in a report published on Thursday.

Jeff Bezos, founder of Amazon, has benefitted the most, as his orders at his online delivery service soared, with his wealth increasing by an eye-watering $36.2bn. Mark Zuckerberg was the second biggest beneficiary, increasing his net worth by $30.1bn. Even Bill Gates, who has positioned himself as global health saviour by backing a number of Covid-19 vaccine projects, has ended up $11.8bn better off.

Jeff Bezos – up $36.2bn
Mark Zuckerberg – up $30.1bn
Elon Musk – up $14.1bn
Sergey Brin – up $13.9bn
Larry Page – up $13.7bn
Steve Ballmer – up $13.3bn
MacKenzie Bezos – up $12.6bn
Michael Bloomberg – up $12.1bn
Bill Gates – up $11.8bn
Phil Knight – up $11.6bn
Larry Ellison – up $8.5bn
Warren Buffett – up $7.7bn
Michael Dell – up $7.6bn
Sheldon Adelson – up $6.1bn

Chuck Collins, a co-author of the report, said:

These statistics remind us that we are more economically and racially divided than at any time in decades.