In two months, American billionaires’ fortunes have increased by 15%. Another 16 people have joined the club of billionaires.
U.S. billionaires increased their fortune by 15% during the two months of the Coronavirus Pandemic, according to a study by think tanks Americans for Tax Fairness and the Institute for Policy Studies, published on Friday, May 21. Between March 18 and May 19, it rose by $434 billion, reaching $3.382 trillion.
About 20% of the total growth was provided by the five richest people in the United States – the head of Amazon Jeff Bezos, one of the founders of Microsoft Bill Gates, the creator of Facebook Mark Zuckerberg, the head of Berkshire Hathaway Warren Buffett and co-founder of Oracle Larry Allison. In particular, the state of Bezos increased by 34.6 billion, showing an increase of 30.6%, Gates – 8 billion (8.2% increase), and Zuckerberg – 25.3 billion (plus 46.2%).
Of the top 30 billionaires in the U.S., John Menar, Jr., owner of the Menards Home Stores chain (62.8% increase) and entrepreneur Elon Musk (48% increase) showed the highest percentage increase in two months.
The study also points to an increase in the number of billionaires in the two months: if in March there were 614, in May – 630. In April, the U.S. was second in the world after China by the number of new billionaires after the economic crisis in 2009. During this time, the total number of billionaires in the country increased by 210 people, including 61 IT billionaires.