A new report reveals that American billionaires have seen their fortunes increase by $434 billion since the start of the pandemic, although at least one analysis disputes that view on the basis of stock losses.
A report from Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality arrived at this conclusion after analyzing the earnings of American billionaires between mid-March, when the coronavirus pandemic began to impact the American economy, and mid-May. They found that Amazon CEO Jeff Bezos added $34.6 billion to his wealth and Facebook CEO Mark Zuckerberg added $25 billion to his wealth, putting them at the top of the list in terms of billionaires who made gains to their fortunes. When it comes to the percentage by which their fortunes have increased, Tesla and SpaceX CEO Elon Musk saw his net worth increase by 48 percent to $36 billion, while Zuckerberg’s wealth rose by 46 percent to $80 billion.
The top five billionaires on that list — Bezos, Zuckerberg, Microsoft co-founder Bill Gates, Oracle CEO Larry Ellison and Berkshire Hathaway CEO Warren Buffett — saw their
— source salon.com | Matthew Rozsa | May 28, 2020
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