Amazon’s Jeff Bezos added $34.6 billion to his wealth and Facebook’s Mark Zuckerberg picked up $25 billion during the CCP Virus (coronavirus) lockdown between mid-March and mid-May, according to a new report.
Bezos and Zuckerberg are among the American billionaires who got richer during the CCP Virus pandemic while the U.S. economy and labor force grappled with the worst economic crisis in recent history, CNBC reported, citing a report from Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality.
The report is based on Forbes data for more than 600 America billionaires between March 18, when most states were in lockdown, and May 19.
According to the report, U.S. billionaires’ fortunes soared $434 billion during the past two months.
In detail, the net worth of the billionaires rose from $2.948 trillion to $3.382 trillion, representing an increase of 15% in the two-month period.
The five richest billionaires—Bezos, Bill Gates, Zuckerberg, Warren Buffett, and Larry Ellison—saw their combined gains of $76 billion, which highlights how the CCP Virus crisis has rewarded the largest and most tech-focused companies.
Bezos and Zuckerberg were the biggest wealth gainers, with Amazon’s boss seeing his wealth increase by 31% to $147 billion, and Facebook’s CEO seeing his wealth surged by 46% to $80 billion.
Elon Musk had among the largest percentage gain of billionaires, seeing his net worth jump by 48% in the two months to $36 billion.