top of page

Create and Learn Books - a quick and easy way to learn by doing

Writer's pictureCreate and Learn

U.S. Billionaires Gained $1 Trillion Since The Pandemic Started



This article is published in collaboration with Statista

by Niall McCarthy


American billionaires haven't been just immune to the pandemic, they have been thriving in it, drastically increasing their collective wealth. An analysis by Chuck Collins at the Institute for Policy Studies found that American billionaires have been their wealth grow by $1 trillion since March of this year - more than 34 percent. That was not the case during the 2008 financial crisis when it took Forbes' 400 richest people three years to recoup their losses from the Great Recession. Collins' findings highlight a wealth gain by a mere 650 individuals that seems obscene at a time when nearly 7 million Americans are at risk of eviction when moratoriums expire at the end of the year.


There are 650 billionaires on the list, out of which 47 are new arrivals with 11 dropping out due to death or financial decline. There were numerous impressive financial gains among notable billionaires on the lit with Jeff Bezos growing his fortune by $69.4 billion between March 17 and November 24. The Amazon boss and richest man on the planet is now with $182.4 billion. The most impressive gain on the list was recorded by Tesla and SpaceX CEO Elon Musk who has seen his fortune experience a meteoric rise. In the above period, his weath surged a whopping 414 percent, climbing from "just" $24.6 billion to $126.2 billion, making him the world's second richest man after Bezos.


Illustrating the gulf in financial inequality in the U.S. today, the analysis states that U.S. billionaires own $4 trillion, 3.5 percent of all privately held wealth in the country. Billionaire wealth is now twice the amount of wealth held by the bottom 50 percent of all American households combined, approximately 160 million people.


Start leaning Data Science and Business Intelligence tools:


Comments


The 100 Page Book - Python

Uncomplicated and easy to assimilate structure

Python The 100 page book - cover.png

Power BI – Business Intelligence Clinic

One dataset multiple solutions. Start your journey into the Business Intelligence world with this book.

Power BI 2019.jpg

Excel – Business Intelligence Clinic

One dataset multiple solutions. Start your journey into the Business Intelligence world with this book.

Excel BI ebook 2019.jpg

Power BI, Excel and Tableau – BI Clinic

Learn how to create Dashboard using Power BI, Excel and Tableau.

BI Clinic Complete Single cover.jpg

Power BI Academy: HR Recruitment

Create a complete dashboard for Human Resources. Bonus: 10 Templates

ebook.png

Tableau – Business Intelligence Clinic

One dataset multiple solutions. Start your journey into the Business Intelligence world with this book.

Tableau ebook 2019.jpg

Thanks for submitting!

​

Subscribe to get tips and free material

bottom of page