The report, which is based on Forbes data for America's billionaires, showed that the total net worth of America's 600 billionaires increased by 15 percent, from $2.948 trillion to $3.382 trillion.
While millions of Americans lost their jobs due to the spread of the new coronavirus or waited anxiously for federal stimulus checks to come into the mail, U.S. billionaires got richer, according to a new report.
Between March 18 and May 19, the total net worth of billionaires Jeff Bezos , Bill Gates , Mark Zuckerberg , Warren Buffett and Larry Ellison grew by $75.5 billion, according to anDuring that period, Zuckerberg's wealth increased by 46.2 percent , followed by Bezos by 30.6 percent ; Ellison by 11.9 percent ; Gates by 8.2 percent ; and Buffett by 0.8 percent .
Elon Musk saw one of the latest gains, with his personal wealth increase by 48 percent . Other billionaires who saw their financial portfolio grow include former presidential candidate Michael Bloomberg; tech billionaire Michael Dell; media titan Rupert Murdoch; and Los Angeles Clippers owner Steve Ballmer.
Microsoft Corp co-founder Bill Gates and former New York City Mayor Michael Bloomberg speak during a news conference announcing joint efforts to combat the global tobacco epidemic in New York. Billionaires Bloomberg and Gates were among 600 American billionaires who saw their fortunes growing during the COVID-19 pandemic.data for America's billionaires, showed that the total net worth of America's 600 billionaires increased by 15 percent, from $2.948 trillion to $3.382 trillion.
"The pandemic has revealed the deadly consequences of America's yawning wealth gap, and billionaires are the glaring symbol of that economic inequality," Frank Clemente, ATF's executive director, said in aTech stocks have continued to rise, with both Facebook and Amazon hitting new all-time highs this week. As of Thursday, Amazon shares were up 29 since January, while Facebook share rose 10 percent since the start of 2020.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
American billionaires got $434 billion richer during the pandemicAmerica's billionaires added $434 billion to their wealth between mid-March and mid-May
Read more »
US billionaires got $434 billion richer during the pandemic, according to report - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Fewer Americans are getting credit cards amid pandemic, study findsNewly opened credit cards fell by 73% from March 15 to April 15 this year versus the same period last year, according to a new report by CompareCards.com.
Read more »
Restaurant owners ask Trump for PPP fixes. Trump response: ‘My news negates what you just said’After two rounds of funding for PPP totaling $360 billion, restaurants are still getting crushed by the financial toll of the coronavirus pandemic.
Read more »
China paints a target on Hong Kong, but abandons one for growthAs China's National People’s Congress convened, a proposed law from Beijing was enraging pro-democracy activists in Hong Kong
Read more »
AOC delivers sarcastic response to report that U.S. billionaires got $434bn richer during pandemicReport says that the richest people in the country have seen their combined wealth rise to $3.382 trillion during two-month lockdown.
Read more »