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Article: The Wealth Of The World's 10 Richest People Doubled During The Pandemic

The Wealth Of The World's 10 Richest People Doubled During The Pandemic Elon Musk
Covid-19 Pandemic

The Wealth Of The World's 10 Richest People Doubled During The Pandemic

The pandemic brought not only death but also poverty to many people because of the restrictions imposed by authorities. In exchange, the worlds' richest people became... richer.

The wealth of the ten richest people in the world has doubled since the start of the global, according to an Oxfam report presented by BBC and The Guardian.

The pandemic hit the world dramatically. Many people have died, many were sick and life all over the world has changed. Restrictions were rough and as a result, many businesses closed, many people lost their jobs, and poverty deepened.

But not everyone was hit. Quite the opposite. The fortunes of the 10 richest people in the world have basically doubled since March 2020.

Who Are The 10 Richest People In The World

1. Elon Musk -294.2 billion dollars, up 1,016%
2. Jeff Bezos - $ 202.6 billion, up 67%
3. Bernard Arnault and his family - $ 187.7 billion, 130% increase
4. Bill Gates -137.4 billion dollars, it grew up with 31%
5. Larry Ellison - $ 125.7 billion, up with 99%
6. Larry Page - $ 122.8 billion, up 125%
7. Sergey Brin - $ 118.3 billion, 125% increase
8. Mark Zuckerberg - 117.7 billion dollars, 101% increase
9. Steve Ballmer - $ 104.4 billion, up 85%
10. Warren Buffet - $ 101.5 billion, 40% increase
(according to data presented by Forbes)

For The Richest Men Of The World, The Pandemic Was An "Opportunity" To Become Richer

Collectively, their fortunes grew from $ 700 billion to $ 1.5 trillion between March 2020 and November 2021, though there are variations between them, at the individual level. Thus, Elon Musk's fortunes grew at a faster pace, by more than 1,000%, surpassing by far Bill Gates.

Meanwhile, more than 160 million people have been pushed below the poverty line.

One of the report's authors Max Lawson told the BBC: "If you take the wealth of billionaires in mid-February 2020 instead, we estimate that the increase in the top ten richest men is more like 70% - which would still represent a record-breaking increase, and something the like of which we have never seen before."

Oxfam's report is based on data from the Forbes Billionaires List and the annual Credit Suisse Global Wealth Report, which gives the distribution of global wealth going back to 2000.

The Davos forum, scheduled for this week, has been postponed due to the pandemic. The most prominent politicians will come together by digital means.

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