The fortunes of US billionaires rose 15 percent in the two months since the coronavirus pandemic hit, a study found, with Amazon boss Jeff Bezos and Facebook chief Mark Zuckerberg seeing massive gains.
The more than 600 billionaires in the United States became even richer as tech stocks rose during virus lockdowns, an analysis of data by two think-tanks published Thursday said.
Between March 18 and May 19, their total net worth increased by $434 billion while the coronavirus pandemic caused job losses and economic agony for tens of millions of Americans.
Based on Bloomberg Billionaires Index ranking as of May 21, Zuckerberg’s rise in net value has granted him the bragging rights of third-richest man in the world. Zuckerberg is currently valued at around $87.8 billion, surpassing billionaires like Berkshire Hathaway chief executive officer Warren Buffett and fashion tycoon, Bernard Arnault.
A recent CNBC reported disclosed that Facebook’s stock price also hit an all time peak of $230.75 after the group unveiled Shop, its own online shopping feature.