US billionaires are doing fabulously well. The Institute for Policy Studies and Americans for Tax Fairness reported Thursday (May 2020) that since mid-March, America’s billionaires have added $434 billion to their net worth.
Collectively, the richest 630 Americans now control $3.4 trillion in wealth, a 15 percent increase in two months.“The top five US billionaires—Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett and Larry Ellison—saw their wealth grow by a total of $75.5 billion, or 19 percent,” the report states. “Together they captured 21 percent of the total wealth growth of all 600-plus billionaires in the last two months.
The fortunes of [Amazon CEO] Bezos and [Facebook CEO] Zuckerberg together grew by nearly $60 billion, or 14 percent of the $434 billion total.”
