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$1 Trillion Earnings For America's Richest During Pandemic

The Show Time

The US boasts a whopping 644 billionaires and their net worth is said to have increased by almost $1 trillion over the course of the ongoing health crisis. Meanwhile, it's thought eight million Americans have been forced into poverty, demonstrating the severity of the wealth gap in the US. The news comes after Americans for Tax Fairness and the Institute for Policy Studies released a report on Thursday, October 22 which stated that the US billionaires net worth had increased by a staggering $3.88 trillion byOctober One man who's really reaped the rewards in recent months is Amazon founder Jeff Bezos As per CBS News, Bezos wealth has gone from $90.1 billion on March 18, to an eye watering $203.1 billion as of October 13 SANUS Apparently Amazon's shares reached a record high last month hitting $3,500 per share. Another report earlier this month concluded that US billionaire's net worth has risen to $10.2 trillion during the pandemic. The report by Swiss bank UBS found that between April and July billionaires increased their wealth by 27.5%. The number of billionaires have recently increased as well rising from 2,158 in 2017 to 2,189 this month. In addition to Bezos, the likes of Bill Gates and Mark Zuckerberg have also been rolling in the cash. According to Thursday's report, Gates wealth has jumped 20% to $118 billion while Zuckerberg saw a huge 85% gain taking him up to $101.2 billion.

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