• The Financial District

US BILLIONAIRES INCREASED WEALTH BY $485-B DURING PANDEMIC

US billionaires added $485 billion to their collective wealth during the past 10 weeks, wrote Saloni Sardana for Business Insider on May 31, 2020, bringing their asset pile to $3.439 trillion as of May 28, figures compiled by the Institute of Policy Studies show.



Jeff Bezos, founder and chief executive of Amazon and Mark Zuckerberg, chief executive of Facebook, were the biggest winners, and have seen their combined wealth increase over $63 billion since March 18, the report said.


The US also added 16 more billionaires between March 18 and May 28, the think-tank added. US stocks have surged in recent weeks, boosting the wealth of those with large stakes in major companies.


More than 40 million people have filed for unemployment benefits over 10 weeks in the week ending May 23, according to the Bureau of Labor Statistics.

Register for Newsletter

  • LinkedIn
  • Instagram
  • YouTube

WHERE BUSINESS CLICKS

@2020 by The Financial District