Billionaires acquired a collective $238 billion in additional wealth in 23 days during the coronavirus pandemic, a new study shows.
U.S. billionaire wealth collectively increased by $238 billion, a 10 percent gain, from March 18 to April 10 when more than 22 million Americans lost their jobs, according to a study by the Institute for Policy Studies, a progressive think-tank. "Billionaire wealth has grown astoundingly over the last few decades — and, for some 'pandemic profiteers,' even more dramatically since the COVID-19 crisis — even as billionaire tax obligations have plummeted," the study states.
Eight billionaires have each gained more than $1 billion in additional wealth since the early months of the pandemic starting on Jan.