US billionaires grow by $ 434 billion in two months of pandemic

US, WASHINGTON (ORDO NEWS) — American billionaires have increased their fortunes, despite the consequences of the COVID-19 pandemic, a study by Americans for Tax Fairness and the Institute for Policy Studies showed.

Between March 18 and May 19, the total net asset value of Americans from the list of 600 richest U.S. residents increased by $ 434 billion, or 15%, from $ 2.948 trillion to $ 3.382 trillion.

The state of the top 5 American billionaires, including Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett and Larry Ellison, grew a total of $ 75.5 billion, or 19%. Together, they accounted for 21% of the total wealth increase of all 600+ billionaires over the past two months.

Amazon CEO Jeff Bezos has grown the most – $ 34.6 billion. It is followed by Facebook founder Mark Zuckerberg (+ $ 25.3 billion) and Microsoft creator Bill Gates (+ $ 8 billion). Oracle co-founder Larry Ellison became $ 7 billion richer, Berkshire Hathaway CEO Warren Buffett $ 564 million richer.

March listed Forbes had 614 American billionaires, and two months later their number reached 630, including newcomer Kanye West with a fortune of $ 1.3 billion.

Meanwhile, restrictions imposed to combat the coronavirus pandemic are causing serious damage to the US economy.

Since businesses and stores began to close in mid-March due to coronavirus, a total of about 38.6 million applications for unemployment benefits have been filed in the country .

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