The net wealth enjoyed by the richest billionaires in the United States has ballooned since the beginning of the pandemic, according to a new report. Meanwhile, millions of households are struggling to put food on the table and pay rent as COVID-19 deaths and infections surge nationwide, underscoring our nation’s vast inequality.
The collective wealth of the 651 richest billionaires has increased by over $1 trillion since March 18, roughly when states began issuing shutdown orders, according to a new analysis of Forbes financial data by Americans for Tax Fairness and the Institute for Policy Studies. The combined net worth of the richest people in the U.S. totaled $4 trillion this week — more than four times the $908 billion price tag of an economic relief package that has taken center stage in the Senate as Congress struggles to strike a bipartisan deal before the end of the year.
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