U.S. Billionaire Wealth Surged During The Pandemic #infographic

U.S. Billionaire Wealth Surged During The Pandemic
U.S. billionaires have seen a 20 per cent rise in income since the start of the pandemic, according to an study by the Center for Policy Studies and the Americans for Tax Equity. Around March 18 and June 17, the overall net worth of 643 US billionaires grew from $2.9 trillion to $3.5 trillion, while another 29 individuals joined the party. While their collective wealth increased by $584 billion, some 45.5 million Americans filed for unemployment.

The country's top five billionaires – Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett, and Larry Ellison – saw their wealth rise by $101.7 billion, or 26%, since initial US lockdowns were imposed. Bezos saw his fortune grow by 38.6 per cent ($43.7 billion) while Mark Zuckerberg 's wealth rose by 58.6 per cent ($32 billion). Within the top five, 12 US billionaires doubled their income over the course of the pandemic, and one of them, Trevor Milton, increased his fortune more than five times.

The level of disparity in the U.S. has been illustrated by the fact that overall U.S. billionaire income has risen twice as much as the federal government paid 150 million Americans in one-time stimulus checks. Commenting on the findings of the study, ATF Executive Director Frank Clemente said that "this wealth orgy shows how profoundly broken our economic structure is" and that "if this pandemic exposes something, it's how unequal our world has become and how drastically it needs to change."

U.S. Billionaire Wealth Surged During The Pandemic #infographic

Source: www.statista.com

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