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Richer In Pandemic – How World Billionaires’ Wealth Soared

Pandemic

The coronavirus pandemic has made some people gain while other’s lost, some of the world’s richest people are earning more in this era.

According to a new report by the Institute for Policy Studies think tank, billionaires in the United States have seen a cumulative growth of more than $637 billion from March 18 to June 11. During the same three-month period, over 44 million individuals have filed for unemployment in the US, with more claims being submitted on a daily basis.

Billionaires in the US have seen their cumulative wealth go from $2.95 trillion to $3.58 trillion over the past 12 weeks, accounting for a 21.5 per cent increase. In the last week alone, their overall wealth jumped $72 billion. Conversely, 1.5 million unemployment claims were filed within the past week in the US.

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