World’s Billionaires Added $5,000,000,000,000 To Their Wealth During The Pandemic
The likes of Jeff Bezos, Elon Musk and the billionaires of the world collectively became $5,000,000,000,000 richer during the pandemic.
While the pandemic has had determinantal effects on many businesses, some people have seen theirs thriving, leading to the globe’s richest 2,755 people generating an eye-watering $13 trillion between them last year, up from $8 trillion the year before.
This is believed to be the largest wealth surge in decades.
The news comes as part of Forbes’ annual World Billionaires List, which found 2020 saw almost 500 people added to its rich list – a new billionaire being created every 17 hours – a record high for the publication, which has been creating the lists for 35 years.
Overall, 660 people were added to Forbes’ list; some who had previously been on the list, others completely new. Of the 493 new billionaires, 210 of them came from China and Hong Kong, while others who had fallen off the list made a triumphant return.
Sitting pretty at the top of the list was, of course, Amazon’s Jeff Bezos who was crowned the world’s richest person for a fourth year running with a net worth of $177 billion, the publication reports.
Meanwhile, Tesla and SpaceX founder Elon Musk came in second with a net worth of $151 billion.
Once having been at the top, Microsoft founder Bill Gates is in fourth place with £124 billion. According to The Independent, Gates was number one in 1995 with a net worth of $12.9 billion. By 2000, this had more than quadrupled to $90 billion.
The richest woman on the list was Francoise Bettencourt Meyers in 12th place, who had a net worth of $73.6 billion. Bettencourt Meyers is the granddaughter of the founder of L’Oreal.
Explaining how they made the list, Forbes explained that it ‘used stock prices and exchange rates from March 5 to calculate net worths.’
The US boasts the most billionaires with more than 700 being located there, which was followed closely by China and Hong Kong.
Meanwhile, there’s only 56 billionaires in the UK including the likes of Philip Green, Richard Branson and James Dyson.
While there are much less billionaires compared to across the pond, these 56 people’s wealth spiked by $61 billion last year. All 56 tycoons are worth an estimated $213.9 billion, compared to $152.9 billion the year before.
One of the newest additions to Forbes’ list is reality TV star Kim Kardashian-West. The 40-year-old was officially announced to have hit billionaire status yesterday, April 6, after seeing her wealth increase by $220 million in a matter of months.
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