Report: US Billionaire’s Wealth Has Increased by over Half a Trillion During Covid-19 Pandemic

  • A new report by the Institute for Policy Studies (IPS) has found that US billionaire’s wealth as a group has increased by over half a trillion dollars.
  • This figure represents a 19% increase over the period since March.

The Institute for Policy Studies (IPS) has found that the extremely rich have gotten richer during the Covid-19 pandemic. The report shows that the total wealth of US billionaires has risen 19%, or $565 billion, since March when the economic effects of the pandemic have begun to be felt.

Over the same period 46 million workers filed for unemployment, completely shattering all previous records.

“These statistics remind us that we are more economically and racially divided than at any time in decades,” said Chuck Collins, a co-author of the report.

Jeff Bezos, Mark Zuckerberg, and Elon Musk are among the biggest winners over the period analyzed by the report.

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