During the COVID-19 pandemic, billionaires experienced a massive surge in wealth:
Global Billionaires: Their collective wealth increased by $3.8 to $4 trillion during the first year of the pandemic, reaching $12.7 trillion by 2022, a rise of 42%-54%[2][3].
U.S. Billionaires: Their wealth grew by $1.7 trillion (58%) over three years, totaling $4.7 trillion by 2023[1][5]. By 2024, U.S. billionaire wealth had risen 88% since the pandemic began, reaching $5.5 trillion[7].
Top 10 Richest Men: Their fortunes more than doubled from $700 billion to $1.5 trillion during the pandemic[4][8].
During the COVID-19 pandemic, billionaires experienced a massive surge in wealth:
Citations: [1] Updates: Billionaire Wealth, U.S. Job Losses and Pandemic Profiteers https://inequality.org/article/updates-billionaire/ [2] Covid-19: A new billionaire has been minted nearly every day … - CNN https://www.cnn.com/2022/05/22/economy/billionaires-poverty-oxfam-davos/index.html [3] Billionaires got 54% richer during pandemic, sparking calls for … https://www.cbsnews.com/news/billionaire-wealth-covid-pandemic-12-trillion-jeff-bezos-wealth-tax/ [4] Ten richest men double their fortunes in pandemic while incomes of … https://www.oxfam.org/en/press-releases/ten-richest-men-double-their-fortunes-pandemic-while-incomes-99-percent-humanity [5] Pandemic Profits: Billionaires Wealth Grew $1.7 Trillion During … https://americansfortaxfairness.org/pandemic-profits-billionaires-wealth-grew-1-7-trillion-three-years-public-health-emergency/ [6] American billionaires decried Joe Biden, gained wealth in his term https://financialpost.com/wealth/american-oligarchy-biden-15-trillion [7] U.S. Billionaire Wealth Is Up 88% Since the Pandemic—Now … https://ips-dc.org/u-s-billionaire-wealth-is-up-88-since-the-pandemic-now-topping-5-5-trillion/ [8] 10 richest men double their fortunes in pandemic while incomes of … https://www.oxfam.ca/news/10-richest-men-double-their-fortunes-in-pandemic-while-incomes-of-99-per-cent-of-humanity-fall/