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Covid-19 effect on the richest: assets up by 40%, record-breaking Musk

Assets of America's 12 Richest Billionaires Up $283 Billion, While Household Wealth Shrinks 5,6% – Elon Musk Quadruples Portfolio

Covid-19 effect on the richest: assets up by 40%, record-breaking Musk

+40% for billionaires, -5,6% for families. This is the trend of global wealth estimated in the latest analysis of theInstitute for Policy Studies based on the famous rankings drawn up by Bloomberg and Forbes. The study clearly shows how i fortunes of the twelve richest billionaires in America they have not been affected at all by the coronavirus pandemic that has shocked the world and the consequent lockdowns. Indeed, from March to today they would have even grown, rising by 40 percent. Twelve people who today have combined assets exceeding a trillion dollars, 283 billion more than at the beginning of the year.

At the basis of growth, there would be above all the Guinness gains achieved by Hi-Tech stocks on the Nasdaq, with Amazon doubling its stock market value, Apple exceeding 2 trillion dollars in capitalization and Tesla continuing to score record after record even after the split.

READ MORE: Wall Street booms only for a few: the market is in the hands of the Big Five

How does it go for "normal citizens"? Not well. The analysis shows that in the same reference period, US household wealth plummeted by 5,6%, with more than half of Americans seeing their wealth visibly shrink. A trend that among other things confirms how Covid-19 has widened the already existing inequalities. 

Returning to the big assets, the study by the Institute for Policy Studies confirms the first place in the standings Jeff Bezos, number one of Amazon, which thanks to the pandemic, the increase in online purchases and the performance of the stock on the stock market, has seen its assets increase by as much as 76 billion dollars. Not to be underestimated, however, even the portfolio of Elon Musk, which in a few months managed to quadruple its wealth from 24,6 billion to over 95 billion after the August XNUMX rally. All in just over five months.

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