10 billionaires that got richer during covid pandemics
While the rest of the world suffers, these billionaires are cashing in on the pandemic. Find out who they are and how they're doing it.
How the super-rich have profited from the pandemic
While the pandemic has left many people struggling to make ends meet, the world’s billionaires have seen their wealth skyrocket and get even richer during pandemics.
In fact, billionaires’ fortunes grew by an astounding $4 trillion during the first year of the pandemic. This windfall is largely due to the stock market boom that has occurred during the past year.
And, as usual, the richest have benefited the most. The top 10% of billionaires now control a staggering $32 trillion, which is more than the entire bottom 50% of the world’s population combined.
Of course, not everyone is thrilled about this state of affairs. Critics argue that it is unfair that a small group of people has gotten so much richer while so many others are struggling.
They point out that billionaires could use their newfound wealth to help those less fortunate, but instead, they hoard it.
The outrageous fortunes being made during the Covid pandemic
For most people, the Covid pandemic has been nothing but a nightmare. Hospitals have been overwhelmed, and millions of people have lost their jobs.
But for some, the Covid pandemic has been a goldmine. Here are 10 billionaires that got richer during the covid pandemic.
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1. Elon Musk
Elon Musk’s wealth has skyrocketed to new heights, making him the world’s richest person and one of the billionaires who managed to get richer during pandemics.
According to Bloomberg Billionaires Index, his net worth has surged by $162.1 billion since March 2020. That’s a 560% increase in just over a year.
Much of Musk’s fortune is derived from his stake in Tesla, which has become one of the most valuable companies in the world.
1. Bill Gates
As the co-founder of Microsoft, Gates was already one of the richest billionaires in the world but got richer during pandemics.
But as the COVID-19 pandemic continues to ravage the global economy, Gates sees his wealth increase even more.
According to Forbes, Gates’ net worth has increased by nearly $20 billion since March 2020.
2. Jeff Bezos
Jeff Bezos is the founder of Amazon and is currently the richest man in the world, with a net worth of over $100 billion.
During the COVID-19 pandemic, his wealth has increased by over $30 billion as people have turned to Amazon for their shopping needs.
3. Warren Buffet
According to Forbes, Buffett’s net worth rose by $24.5 billion in 2020, making him the fourth-richest person in the world.
That’s an impressive feat, considering that Buffett is now 89 years old and was already one of the richest men on the planet before the pandemic began.
Buffett has weathered many market ups and downs over his long career, so he knows how to weather the storm.
But part of it may also be his investing philosophy, which emphasizes long-term value over short-term gains. That’s what made him richer during pandemics and even more of a billionaire.
4. Mark Zuckerberg
He is the co-founder of Facebook, and now has a net worth of over $100 billion. In times of global crisis, such as the current Covid-19 pandemic, billionaires like Zuckerberg see their wealth increase.
This is because they often have investments in sectors that are less affected by economic downturns, such as tech companies.
5. Sergey Brin
Sergey Brin is an American computer scientist and internet entrepreneur. He is the co-founder of Google, a multinational technology company.
He is also one of the world’s wealthiest billionaires, with an estimated net worth of over $80 billion as of March 2020.
During the COVID-19 pandemic, his net worth increased by $15.2 billion, making him one of the billionaires who got richer during the pandemic
6. Larry Page
Page is known for his unusual business approach and focuses on innovation. And more recently, he has been outspoken about his belief that billionaires should pay more taxes.
Given his background and beliefs, it’s not surprising that Page has been one of the few billionaires actually to get richer during the pandemic.
While many businesses have suffered, Google has thrived thanks to the increased demand for online services. As a result, Page’s net worth has ballooned to an estimated $100 billion.
7. Jack Ma
Jack Ma is a Chinese billionaire, the co-founder and executive chairman of Alibaba Group, a multinational technology conglomerate.
He is one of the richest people in the world, with an estimated net worth of $37.7 billion as of March 2020.
His net worth increased by $5 billion during 2020 despite the global economic recession caused by Covid 19 pandemic.
9. Larry Ellison
Oracle founder Larry Ellison has seen his net worth swell to $90.2 billion during the pandemic as the software giant’s stock price has surged.
Ellison is now the sixth-richest person in the world, according to Forbes. With a 53% stake in Oracle, Ellison is by far the company’s largest shareholder.
His fortune has grown by $36.6 billion this year, more than any other billionaire. Ellison is now worth more than twice as much as he was at the beginning of 2020.
10. Bernard Arnault & family, LVMH Moët Hennessy
Bernard Arnault is a French billionaire and the chairman and CEO of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.
He is also the richest man in Europe and the fourth richest man in the world, with an estimated net worth of $162.6 billion as of 2020. Arnault’s net worth increased by $114% during the COVID-19 pandemic.
While the pandemic has been a nightmare for many people, it’s been a goldmine for some billionaires. The richest 10% of billionaires now control a staggering $32 trillion.
But it’s not just the Billionaires that made a lot of money in the past years. Check out this next article to know which are the richest celebrities in the world in 2022!
About the author / Vinicius Barbosa
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