- According to Jeffberg, Jeff Bezos and Elon Musk alone increased their net worth by $ 217 billion.
- For this amount, more than 100 million Americans can receive $ 2,000 checks.
- Collectively, the net worth of the 500 richest people in the world rose to about $ 1.8 billion, a 31% increase that represents the largest annual profit in the eight years that Bloomberg has reviewed.
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While many Americans have become economically excited about the coronavirus pandemic, and are now awaiting a decision by Congress on whether they will receive a $ 2,000 stimulus check soon, the world’s richest people made a record profit in 2020.
Last year, Jeff Bezos and Elon Musk jointly increased their net worth by $ 217 billion last year, an amount that could cut $ 2,000 checks for more than 100 million Americans.
The richest person in the world, Amazon CEO Bezos, is now worth about $ 190 billion, according to the Bloomberg Billionaires Index. And Tesla founder and CEO Elon Musk took second place with about $ 170 billion, surpassing Microsoft’s Bill Gates.
Musk’s net worth in particular grew the fastest in 2020, reports Bloomberg. Its net worth consists mainly of Tesla shares, of which it owns about 75%, according to Bloomberg.
This is because millions of people in the United States remain unemployed due to the economic devastation caused by the coronavirus pandemic.
In March, Congress adopted the first coronavirus stimulus package, which included $ 1,200 in direct payments to Americans. It was an attempt to make up for the financial ruin after small businesses nationwide closed down to limit the spread of the virus.
Americans waited nine months to receive a second stimulus test. In December, Congress finally reached an agreement on the second incentive package, an agreement that included $ 600 checks to taxpayers.
But the House and Senate are once again at odds with each other, as House Democrats are campaigning for $ 2,000 checks to go out. Senate Republicans, led by majority leader Mitch McConnell, have repeatedly rejected the effort.
Meanwhile, employment rates have been rising steadily in the US. But the November Labor Department’s work report said about 15 million people did not work that month due to the pandemic.
Globally, the outlook is much slimmer.
In a report released last year, the World Bank predicted that global poverty would increase for the first time in more than two decades in 2020 as a result of the coronavirus pandemic.
“The latest and most immediate threat to poverty reduction, COVID-19, has unleashed a global economic catastrophe whose shock waves are still spreading,” reads a World Bank review. “Without an adequate global response, the cumulative consequences of the pandemic and its economic downfall, armed conflict and climate change to a high future will require human and economic costs.”
Collectively, the net worth of the 500 richest people in the world grew by about $ 1.8 billion last year, according to Bloomberg. This is a 31% increase which is the largest annual profit in the eight years that Bloomberg has reviewed these figures.