Matt Egan, writing for CNN Business, noted today that even though the past three months have been financially painful for many Americans – it hasn’t been for billionaires.
US billionaires have become $565 billion richer since March 18, according to a report published Thursday by the Institute for Policy Studies, a progressive think tank.
Total wealth for billionaires now stands at $3.5 trillion, up 19% from the low point near the beginning of the pandemic, the report said. Amazon (AMZN) boss Jeff Bezos alone is worth $36.2 billion more than he was on March 18.
Since that day, nearly 43 million Americans have filed for initial unemployment benefits. Continue reading the article here.