Filthy Rich Maryland Billionaires Got Wealthier During Pandemic
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Filthy Rich Ohio Billionaires Got Wealthier During Pandemic
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Citadel founder and CEO Ken Griffin, the richest man in Illinois, saw his wealth grow this much during the pandemic 32.2 percent. He joins Jeff Bezos, Elon Musk, Bill Gates and others whose wealth also increased during the pandemic. ( Larry Busacca/Getty Images for The New York Times)
ILLINOIS A financial think tank analysis released Thursday on the growth of billionaire wealth found that after seeing their fortunes steadily rise over the past three decades, the ultra-rich saw their money explode during the pandemic.
Americans for Tax Fairness found the combined wealth of billionaires in America jumped from $2.95 trillion to $4.56 trillion from March 18, 2020, to April 12, 2021. That s an increase of $1.62 trillion, or 55 percent.
The wealth of U.S. billionaires has grown tremendously during the pandemic, and the increase in their wealth alone could pay for a majority of President Joe Bidenâs new infrastructure and jobs plan, finds a new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS).
Between March of 2020 and now, the 719 U.S. billionairesâ collective wealth has grown by 55 percent, finds the report. Their combined wealth grew from $2.95 trillion to $4.56 trillion, a growth of $1.62 trillion. Just the increase in their wealth, the report says, could cover almost 70 percent of Bidenâs new $2.25 trillion American Jobs Plan to create jobs and invest in infrastructure across the U.S.