The past three months have been financially painful for many Americans, but not for billionaires. According to a report published by the Institute for Political Studies, US billionaires have become richer by $ 565 billion since March 18.
The report said that the total fortune of billionaires is $ 3.5 trillion, which is 19% more than on the eve of the pandemic. Amazon boss alone Jeff Bezos earned $ 36.2 billion in quarantine.
Experts say welfare inequality may worsen because of the growing crisis and protests across the country. Accelerating the welfare of the richest Americans is due to the restoration of the stock market, which has largely taken off thanks to the unprecedented actions of the Federal Reserve.
“Stock market growth and separation from the real economy exacerbate inequality,” said Christina Hooper, Invesco’s chief strategist.