The Institute for Policy Studies (IPS) has reported that the twelve wealthiest US billionaires have increased their combined wealth over the Covid-19 pandemic to a staggering 1 trillion dollars.
Between March 18th and August 13th this year, the so-called ‘Oligarchic Dozen’ saw their collective net worths rise by $283 billion, an increase of 40%, while millions of Americans struggle to make ends meet against the economic turmoil of the pandemic.
At the top of the list are Amazon’s Jeff Bezos ($189 billion), Microsoft’s Bill Gates ($114 billion) and Facebook’s Mark Zuckerberg ($95 billion).Tesla CEO Elon Musk recorded the highest increase in wealth during the pandemic, tripling his fortune from 24.6 billion to 73 billion.
The IPS noted that the collective wealth of these 12 individuals is more than the combined GDP of Austria and Belgium.
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