Why the corona pandemic is making the super-rich even richer

Significantly passed the $ 1,900 mark

While the corona pandemic hit numerous industries hard and many people lost their jobs, the wealth of the richest of the rich has grown even faster than ever before. There are reasons.

TANNEN MAURY / AFP / Getty Images

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TANNEN MAURY / AFP / Getty Images

?? For the first time ever, the total fortune of dollar billionaires exceeds $ 10 trillion

?? Economic stimulus packages as growth drivers

?? Donation amounts are also increasing

The major Swiss bank UBS together with the consulting firm PwC, examined how the current pandemic has affected the wealth of the world’s 2,189 billionaires. The result is quite revealing.

Thanks to economic stimulus packages, wealth is increasing

From a monetary point of view, the super-rich have not only survived the crisis unscathed, but are also emerging as big winners. By the end of July, their total assets had risen to $ 10.2 trillion, the equivalent of 8.7 trillion euros – a new record.

Among other things, the experts identified the numerous government measures as a reason for cushioning the consequences of the corona pandemic for the economy. The economic stimulus packages have ensured a recovery on the stock markets, which in the meantime even set new record highs in some cases after the corona-related slump in March. Tech stocks in particular led the recovery in the summer, the stocks that numerous dollar billionaires have in custody and on which a large part of their wealth is based.

The involvement of the super-rich in the health sector, which has benefited in recent months from hopes for a vaccine and a drug to treat the coronavirus, among other things, was one reason why the wealth of the super-rich has recently grown faster than ever before.

Jeff Bezos becomes first $ 200 billion billionaire

The richest man in the world AmazonCEO Jeff Bezos, has benefited particularly from developments on the stock markets. Because his company, of which he remains the main shareholder, was not only able to benefit from developments in the world with its online shopping platform, but also benefited from developments in this area with its growth area Amazon Web Services and the associated trend towards cloud use Year. At the end of July, Bezos became the first person to ever exceed the US $ 200 billion mark, and according to the Forbes Realtime Wealth List, the richest man in the world is still worth US $ 185.6 billion.

Donations also at a record level

But many super-rich have not only increased their assets but also their willingness to donate. According to the study, the super-rich donate more than ever to charity. Recently, the ex-wife of Jeff Bezos had announced a billion donation, Jeff Bezos himself wants a portion of his billionaire fortune Fight against climate change the 56-year-old recently had a School founded.

Finanzen.net editorial team


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