The Rich Got Richer During COVID-19. Here’s How American Billionaires Performed
The Briefing
- In a year defined by a global pandemic, many of the wealthiest people in the U.S. saw their wealth grow substantially
- Since the market bottom in March 2020, the billionaires on this list grew their wealth by 57% on average
- Elon Musk had the highest net worth increase at $128.9 billion
How American Billionaire Wealth Did During COVID-19
We’ve all been affected by the pandemic-induced mayhem of 2020. But when it comes to finances, some have fared far better than others.
While job loss persists for Americans making less than $20 an hour, the rich have gotten richer. More specifically, the most wealthy American billionaires have seen their net worth bounce back dramatically, thanks to strong stock market performance.
Here’s a look at who’s gotten richer since the market bottom in March 2020, and just how much their net worth has increased since then:
Billionaire Net Worth Growth in 2020
Between March’s market bottom and December 2020, the billionaires included on this list grew their wealth by 57% on average. Interestingly, that’s about 10 percentage points higher than the overall growth of the S&P 500 index during the same time period.
| Name | Main Source | Wealth Growth (Mar 18–Dec 21, 2020) |
Net worth % Growth (Mar 18– Dec 21, 2020) |
|---|---|---|---|
| Jeff Bezos | Amazon | $73.7 B | 65% |
| Elon Musk | Tesla, SpaceX | $128.9 B | 524% |
| Bill Gates | Microsoft | $ 22.1 B | 23% |
| Mark Zuckerberg | $46.8 B | 86% | |
| Warren Buffett | Berkshire Hathaway | $17.5 B | 26% |
| Larry Ellison | Oracle | $29.5 B | 50% |
| Larry Page | $25.4 B | 50% | |
| Sergey Brin | $25.0 B | 51% | |
| Steve Ballmer | Microsoft | $21.4 B | 41% |
| Alice Walton | Walmart | $13.7 B | 25% |
Disclosure: This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any ...
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