June 16, 2021

American billionaires got richer during pandemic, says Forbes

The crisis does not hit everyone. While the government of the United States connects investment plans to support the economy, American billionaires continue to get richer.

According to the latest figures from Forbes, 75% of the 722 billionaires across the Atlantic are as rich as before the pandemic. Or even richer.

Between January 1, 2020 and April 28, 2021, the total fortune of American billionaires increased by 35%. It has thus gone from 3.400 billion dollars to 4.600 billion dollars, despite the confinements, the closure of certain sectors and the destruction of jobs.

Five billionaires were particularly successful. Elon Musk, founder of the space agency Space X and the automaker Tesla, is the big winner. It was enriched in particular thanks to the rise in Tesla’s share which rose by more than 700% during the pandemic, as well as its investments in bitcoin and cryptocurrencies. Elon Musk is now the second richest man in the world behind Jeff Bezos, according to the 2021 Forbes ranking.

The latter was also favored by the pandemic. The fortune of Jeff Bezos, CEO of Amazon, has increased by 86 billion dollars since January 1, 2020. Mainly thanks to the lockdowns: the closure of shops has led to an increase in sales on Amazon, going so far as to triple the group net profit in the third quarter of 2020.

Even richer Mark Zuckerberg and Bill Gates

We can also note the progression of the fortunes of Larry Page (+ $ 42 billion since January 1, 2020) and Sergey Brin (+ 41 billion), the co-founders of Google. Daniel Gilbert (aka Dan Gilbert), the founder of the mortgage company Quicken Loans, has made $ 40 billion in wealth. Just like Mark Zuckerberg, CEO of Facebook (+ 35 billion) and Bill Gates, founder of Microsoft (+ 22 billion).

But there are a few exceptions, especially among billionaires who haven’t made their fortune in tech. Oil tycoons Harold Hamm and George Kaiser have been hit by the crisis in the energy sector. Real estate heavyweights like Donald Trump have also experienced some difficulties. The net worth of the former president of the United States stands at $ 2.4 billion compared to 3.1 before the pandemic, reports Forbes.