US billionaires got $434 billion richer during the pandemic, according to report

Photo of US billionaires got $434 billion richer during the pandemic, according to report
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  • US billionaires saw a major boost in net worth in the first two months of the coronavirus pandemic, according to a new report published on Thursday by the left-leaning think tanks Americans for Tax Fairness and the Institute for Policy Studies.
  • According to the report, the total net worth of all US billionaires got a $434 billion boost since March 19, when many US states were placed on lockdown.
  • In total, the roughly 600 US billionaires saw their wealth grow from $2.948 trillion to $3.382 trillion within the past two months.
  • The report comes as the number of Americans who filed for unemployment benefits continues to grow.
  • Visit Business Insider's homepage for more stories.

While many Americans are facing financial hardship due to the coronavirus outbreak, US billionaires saw a boost in net worth in the first two months of the pandemic, according to a new report.

According to the report, published on Thursday by the left-leaning think tanks Americans for Tax Fairness and the Institute for Policy Studies, the total net worth of all US billionaires got a $434 billion boost since March 19, when many US states were placed on lockdown.

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