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Meet the 11 US billionaires whose fortunes have grown the most during the pandemic

Meet the 11 US billionaires whose fortunes have grown the most during the pandemic

Saloni Sardana

AP Photo/Lefteris Pitarakis/REUTERS/Andreas Gebert

US billionaires have added $565 billion to their collective wealth during the past 11 weeks, a report by the Institute for Policy Studies found.
Jeff Bezos, founder and CEO of Amazon, was the biggest winner as his fortune grew by $36.2 billion between March 18 and June 4, IPS said.
Below are the 11 US billionaires who saw the biggest gains in net worth during the pandemic.
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Many billionaires were hit hard when the coronavirus tanked markets in late February and the first half of March. However, their fortunes rebounded with the stock market in recent weeks, despite a historic surge in unemployment.

The combined wealth of a selection of US billionaires surged by $565 billion, an increase of almost 20% since the start of the pandemic, according to a report by the Institute for Policy Studies.

Chuck Collins, who co-authored the Billionaire Bonanza 2020 report, said: "In a turbulent week in the life of the nation, these statistics remind us that we are more economically and racially divided than at any time in decades."

Collins added: "Our moral, economic and physical health as a society depends on building a post-pandemic economy that works for everyone, not just the billionaire class. Surging billionaire wealth juxtaposed with the suffering and plight of millions undermines the social solidarity required for us to recover together in the years ahead."

Here are the increases in 11 US billionaires' wealth between March 18 and June 4, based on figures from the Institute for Policy Studies and net-worth estimates from Forbes.