![]() To put this extraordinary wealth growth in perspective, the $2.1 trillion gain over 19 months by U.S. ![]() ![]() Almost 89 million Americans have lost jobs, over 44.9 million have been sickened by the virus, and over 724,000 have died from it. The great good fortune of these billionaires over the past 19 months is even starker when contrasted with the devastating impact of coronavirus on working people. The top five billionaires have seen their fortunes expand even more rapidly than the U.S. households estimated by the Federal Reserve Board. The $5 trillion in wealth now held by 745 billionaires is two-thirds more than the $3 trillion in wealth held by the bottom 50 percent of U.S. billionaires grow, but so did their numbers: in March of last year, there were 614 Americans with 10-figure bank accounts. They Are Now Worth a Combined $5 TrillionĪmerica’s billionaires have grown $2.1 trillion richer during the pandemic, their collective fortune skyrocketing by 70 percent - from just short of $3 trillion at the start of the COVID crisis on March 18, 2020, to over $5 trillion on October 15 of this year, according to Forbes data analyzed by Americans for Tax Fairness (ATF) and the Institute for Policy Studies Program on Inequality (IPS). Billionaire Wealth Surged by 70%, or $2.1 Trillion, During Pandemic. See below for additional details on the trajectory of U.S. As of October 2021, the increase in their combined wealth stood at $2.1 trillion, according to a report by Americans for Tax Fairness and the Institute for Policy Studies. billionaire pandemic wealth gains are down slightly from their peak because of market losses in recent months. Three members of the Walton family - Jim, Alice, and Rob - have seen their combined assets rise from $163.1 billion to $207.7 billion.Bill Gates experienced a wealth increase from $98 billion to $129.8 billion.Jeff Bezos saw his wealth rise from $113 billion to $150 billion.billionaires were worth $1.71 trillion more, according to Forbes.Įlon Musk, who had wealth valued just under $25 billion on March 18, 2020, has seen his wealth increase to $255 billion as of May 4, 2022.īetween Maand May 4, 2022, the following increases in wealth have occurred: crossed the 1 million death mark, according to an analysis by NBC, 727 U.S. billionaires held a combined $2.947 trillion. On March 18, 2020, at the beginning of the formal lockdown, U.S. While billionaires have seen their wealth surge, millions have lost their lives and livelihoods. This troubling juxtaposition underscores the story of unequal loss and sacrifice during the worst pandemic in a century. billionaires have seen their combined wealth rise over $1.7 trillion, a gain of over 58 percent during the pandemic. crosses the grim milestone of 1 million deaths from Covid-19, U.S. ![]() Passes 1 Million Covid Deaths MilestoneĪs the U.S. Update Billionaire Wealth up $1.7 Trillion as U.S. As of Monday, November 21, 2022, their combined wealth is at $188 billion. Three Walton family members – Jim, Alice and Rob – saw their combined asset rise from $161.1 billion to $207.7 billion between Maand May 4, 2022. As of Monday, November 21, 2022, Bezos is at $114 billion, pretty much where he started before the pandemic. Jeff Bezos saw his wealth rise from $113 billion to $150 billion between Maand May 4, 2022. As of Monday, November 21, 2022, Musk is at $183. By May 2022, his net worth had surged to $255 billion. On March 18, 2020, Elon Musk had wealth valued just under $25 billion. Tracking the fortunes of some of the wealthiest billionaires: Last May, that gain had declined to $1.7 trillion. The 745 billionaires had a combined $5.1 trillion, a gain of $2.1 trillion, more than 70 percent over pre-pandemic assets. billionaire wealth hit a high-water mark. billionaire wealth prior to the pandemic was just under $3 trillion.Ī year ago, at the end of October 2021, U.S. While some billionaires have seen wealth evaporate, their combined assets are still 50 percent higher than March 18, 2020.Īs of Monday, November 21, there are 728 billionaires with combined wealth of $4.48 trillion, an increase of $1.5 trillion compared to mid-March 2020, drawing on Forbes’ billionaire database. Here at we occasionally take a snapshot to see how the U.S. US billionaires have seen their wealth gains roll up and down over the last year. Novemupdate Billionaire Wealth Slips, But Still 50 Percent Gain Since Pandemic Start billionaire wealth - one of the most disturbing signs of inequality during a crisis that has devastated ordinary families. Since the beginning of the pandemic, the Institute for Policy Studies has tracked the explosive growth of U.S.
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