Collective increase in net worth of $1 trillion by Top 10 billionaires in 2020

Top 10 billionaires including Amazon’s Jeff Bezos, Tesla’s Elon Musk, Bill Gates, Mark Zuckerberg, Warren Buffett, Oracle’s Larry Ellison , Google’s Larry Page and Sergey Brin, former Microsoft CEO Steve Ballmer and Walmart heiress Alice Walton has witnessed fourth of the total wealth went into their pockets.

The global pandemic which robbed many across the globe of their savings and jobs these rich personalities wealth increased multiple folds. The top 10 billionaires  as well as 641 other billionaires saw a collective jump in their wealth by more than $1 trillion during the Covid period in 2020. The collection grew from $2.94 trillion which was in March 18, 2020 which shot upto $4.01 trillion as of December 7,2020.$2.94 trillion as of March 18, 2020, the total net worth of these American billionaires shot up to $4.01 trillion as of December 7, 2020.

In fact, a fourth ($1.01 trillion) of the total wealth went into the pockets of the top 10 billionaires mentioned above. Among these top 10 people. Among all of them Elon Musk saw the biggest jump of  from $24.6 billion to $143.1 billion which is 481 per cent in his net worth during the period . Mark Zuckerberg’s net worth increased to $104 billion from $54.7 billion i.e almost 92% increase in his net worth. Jeff Bezos’ net worth roped from $113 billion to $184.3 million which was 63.2 percent of increase in his net worth. Net worth for others including Bill Gates, Warren Buffett, Larry Page, Steve Ballmer grew to $118.7 billion, $86.4 billion, $79.8 billion, and $72.9 billion respectively. A copy of the data was seen by Financial Express Online.

The major reason in the increase of wealth of billionaires like Bezos and Musk is largely dependent on their company’s stocks. Tesla’s stocks went up by 800 percent in 2020 after the stock split announced in August while Amazon’s stock rose around by 70 percent.