The Rich Got Richer During COVID-19. Here’s How American Billionaires Performed

American Billionaires During COVID

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 Facebook $46.8 B 86%
Warren Buffett Berkshire Hathaway $17.5 B 26%
Larry Ellison Oracle $29.5 B 50%
Larry Page Google $25.4 B 50%
Sergey Brin Google $25.0 B 51%
Steve Ballmer Microsoft $21.4 B 41%
Alice Walton Walmart $13.7 B 25%
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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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