Pandemic has made billionaires even richer

Though the pandemic has been financially grim for most people around the globe, US billionaires have become richer by $565 billion according to a report published by the Institute for Policy Studies. The current total wealth of billionaires stands at $3.5 trillion which is up by 19% from the beginning of the pandemic.
NATIONAL HARBOR, MD – SEPTEMBER 19: Amazon CEO Jeff Bezos, founder of space venture Blue Origin and owner of The Washington Post, participates in an event hosted by the Air Force Association September 19, 2018 in National Harbor, Maryland. Bezos talked about innovating in large organizations as well as staying on the cutting edge in the space industry. (Photo by Alex Wong/Getty Images)


Amazon founder Jeff Bezos alone is worth $36.2 billion more than he was since March 18. Many lower income workers especially those in the travel and service sector have been hit hard. Conversely, many large tech companies have been thriving and are doing even better since the beginning of the pandemic.


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