US Billionaire Wealth Surpasses $1.1 Trillion Gain Since 2020

While Amazon workers fight to get the company to keep them safe, Bezos and other US billionaires rake in billions. Photo/ Ibonacci Blue

PTLN 12.1.21

US Billionaire Wealth Surpasses $1.1 Trillion Gain Since 2020

Below are excerpts from an article by Chuck Collins of Incomeinequality.com. See full article at:

https://inequality.org/great-divide/updates-billionaire-pandemic/

10 Months into Crisis, 660 Billionaires See Wealth Rise 40 percent.

The collective wealth of all U.S. billionaires has increased over $1.1 trillion since mid-March 2020, a nearly 40% leap during the past 10 months of national emergency.

This wealth windfall could pay for all the relief for working families contained in the $1.9 trillion coronavirus relief package proposed by President Biden, while leaving the nation’s richest households no worse off than they were before COVID-19 hit.

There have been 46 newly minted billionaires since the beginning of the pandemic when there were 64

At $4.1 trillion, the total wealth of America’s 660 billionaires is two-thirds higher than the $2.4 trillion in total wealth held by the bottom half of the population, 165 million Americans….”

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