Coronavirus pandemic was a goldmine for the rich

The coronavirus pandemic made a living for a lot of people more difficult, but the corona crisis has helped ten of the world’s billionaires increase their assets’ value.

Coronavirus pandemic and wealth go hand to hand

Dozens of men who are among the wealthiest people in the world have swelled the property of more than 400 billion dollars (over 8.5 trillion crowns), according to The Guardian. Anti-pandemic measures around the world have helped. According to Forbes magazine, dozens of the rich have made more money in nine months than the UK has invested in the fight against COVID-19 pandemic.

According to a report published by the American organization Americans for Tax Fairness, the value of the collective assets of 651 American billionaires increased by approximately $ 1.1 trillion (more than 23 trillion crowns). “Their profits from the pandemic are so huge that if they invested the money in helping the pandemic, they would not lose even a tenth of the value of their assets,” Guardian quotes Frank Clemente of the Americans for Tax Fairness.

For example, the richest man on the planet and Amazon founder Jeff Bezos increased by $ 70 billion during the pandemic to a record $ 185 billion (3.9 trillion crowns). His company Amazon recorded a record interest in delivery services and e-shop turnover. The online streaming service and one of Netflix’s competitors, Amazon Prime, also enjoyed a more significant part.

During the coronavirus pandemic, other members of the world’s richest dozen prospered. Tesla founder Elon Musk, French financier and owner of most LVMH (Moët Hennessy Louis Vuitton), Bernard Arnault, Google founder Larry Page or “Father of Facebook” Mark Zuckerberg, increased the value of his assets.

For example, Elon Musk’s assets, the owner of 20% of shares in electric car manufacturer Tesla, rose to $ 153 billion, while in March, its value was estimated at $ 25 billion. Thanks to this, Musk moved from the 35th position in January to the second in ranking the wealthiest people in the world. According to the Guardian, the reason for such a significant shift in the richest ranking is investors’ assumptions that a pandemic will accelerate the transition from internal combustion engines to electric cars.

The third richest man on the planet and the wealthiest European, according to the Guardian, was the owner of a luxury brand conglomerate, Bernard Arnault, whose assets more than doubled during the pandemic to a total of $ 148 billion. Microsoft founder Bill Gates improved by 20 billion, but he invested several billion dollars in covid-19 vaccine development and healthcare in the same period. Facebook founder Mark Zuckerberg (up 80 percent to $ 100 billion), investor Warren Buffett (up 26 percent to $ 85 billion), and Google co-founder Larry Page (up half to $ 76 billion) also saw a significant increase in the value of their assets.

Page’s partner Sergey Brin did the same, rising to $ 74 billion. Oracle co-founder Larry Ellison complements the top ten with a 50 percent increase in assets to 88 billion and the ruler of fashion chains such as Zara affiliated with Inditex Amancio Ortega, whose assets Forbes valued at $ 75 billion, a 47 percent increase.

Conclusion

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