Billionaire Wealth SOARS 70% ($2.1 Trillion) In Last 1.5 Years | The Kyle Kulinski Show

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Published on 21 Oct 2021, 18:00
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America’s billionaires have grown $2.1 trillion richer during the pandemic, their collective fortune skyrocketing by 70 percent—from just short of $3 trillion at the start of the COVID crisis on March 18, 2020, to over $5 trillion on October 15 of this year, according to Forbes data analyzed by Americans for Tax Fairness (ATF) and the Institute for Policy Studies Program on Inequality (IPS). [A table of the top 15 billionaires is below.]

Not only did the wealth of U.S. billionaires grow, but so did their numbers: in March of last year, there were 614 with 10-figure bank accounts; this October, there are 745.

The $5 trillion in wealth now held by 745 billionaires is two-thirds more than the $3 trillion in wealth held by the bottom 50 percent of U.S. households estimated by the Federal Reserve Board.

The great good fortune of these billionaires over the past 19 months is all the more stark when contrasted with the devastating impact of coronavirus on working people. Almost 89 million Americans have lost jobs, over 44.9 million have been sickened by the virus, and over 724,000 have died from it.


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