America's Billionaires Have Become
$1.1 Trillion Richer Amid the Pandemic.
According to a report published by The Institute for Policy Studies and Americans for Tax Fairness.
billionaires in the United States have
collectively become 40% richer since mid-March.
In fact, many billionaires are faring better
than they were before the pandemic.
The $4.1 trillion in wealth that America's
660 billionaires currently hold is two-thirds more
than what the bottom 50% of Americans hold.
Big players Mark Zuckerberg, Jeff Bezos and
Elon Musk have enjoyed significant increases in wealth.
They are respectively $37 billion,
$68 billion and $155 billion richer.
According to economists, over 8 million Americans
fell into poverty in the last 6 months of 2020.
According to Oxfam International's annual
inequality report, it will take over a decade for the poorest
people in the world to recover losses from COVID-19.
It only took nine months for the world's top
1,000 billionaires to recover and then turn a profit