USA Billionaires’ Collective Wealth Rises by Over $1 Trillion During Pandemic

America’s billionaires have seen their wealth rise by more than $1 trillion since the start of the coronavirus pandemic.

The Institute for Policy Studies and Americans for Tax Fairness (ATF) said the collective wealth of 651 billionaires in the US jumped from $2.95 trillion on March 18 to $4.01 trillion on December 7.

Frank Clemente, ATF’s executive director, said “Never before has America seen such an accumulation of wealth in so few hands,”

“Their pandemic profits are so immense that America’s billionaires could pay for a major COVID relief bill and still not lose a dime of their pre-virus riches,” Clemente added.

Source: ABS-CBN