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.
#One total lockdown lessons world update#
Update Billionaire Wealth up $1.7 Trillion as U.S. 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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