American billionaires grew in number and expanded their collective fortunes by $2.1 trillion since Covid-19 sparked a worldwide pandemic nineteen months ago, according to a new analysis unveiled Monday. An overall 70% surge of wealth among the nation’s richest individuals since March of 2020 has resulted in approximately 130 new billionaires, found the new report released by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). In a statement, the groups noted that there are now 745 people with “10-figure bank accounts” compared to the 614 that existed when the pandemic first hit. In total, those 745 billionaires now hold $5 trillion in collective wealth, which the groups note is “two-thirds more than the $3 trillion in wealth held by the bottom 50% of U.S. households.”
— source commondreams.org | Oct 18, 2021
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