9 mind-blowing facts about America's richest people

Hillary HoffowerApr 29, 2020, 21:52 IST

America's richest are seeing their wealth grow.Alan Crowhurst/Getty Images

The rich keep getting richer.
Some of America's richest have already grown their wealth by billions in 2020 during the coronavirus pandemic, according to a new report by the left-leaning Institute for Policy Studies.
US billionaire wealth has almost doubled in the past decade alone.
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The staggering wealth of America's rich continues to grow.

In fact, several of America's richest have already added billions more to their wealth in 2020 alone — even during the coronavirus pandemic, according to the left-leaning Institute for Policy Studies' new "Billionaire Bonanza" report.

The report analyzed wealth data from the Bloomberg Billionaire Index and Forbes' Global Billionaires and 400 lists since 1990.

The net worths of the rich are especially astounding when compared to the household median wealth in the US. It explains why the gap between the rich and the poor had widened to a record high in 2018 since the US Census began tracking it 50 years ago.

Many consider generational wealth to be one of the key causes behind this growing economic gap. "The reality is that the top indicator for economic prosperity is not hard work or intelligence, it's the family you're born into," Josh Hoxie, director of the Project on Opportunity and Taxation at the Institute for Policy Studies, previously told Business Insider.

Here are nine mind-blowing facts about America's richest people.

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9. Between 2006 and 2018, the 400 wealthiest households in the US saw nearly 7% of the real increase (adjusted for inflation) in America's wealth.

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8. And America's three richest billionaires — Jeff Bezos, Bill Gates, and Warren Buffett — own as much wealth as the bottom half of all US households combined.

Clodagh Kilcoyne/Reuters

8. And America's three richest billionaires — Jeff Bezos, Bill Gates, and Warren Buffett — own as much wealth as the bottom half of all US households combined.

7. The 400 richest Americans own as much wealth as America's bottom 64% — nearly two-thirds of the nation's household wealth.

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6. In the past decade alone, US billionaire wealth almost doubled, increasing by 80.6% in 2020 dollars.

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5. Between 1990 and 2020, US billionaire wealth increased by 1,130% in 2020dollars — 210 times faster than the 5.37% growth of US median wealth during the same time frame.

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5. Between 1990 and 2020, US billionaire wealth increased by 1,130% in 2020dollars — 210 times faster than the 5.37% growth of US median wealth during the same time frame.

4. Since President Donald Trump took his seat in the Oval Office in 2017, America's billionaires have become 10.6% richer.

President Donald Trump pumps his fist after speaking during a campaign rally at the Huntington Center, Thursday, Jan. 9, 2020, in Toledo, Ohio. Associated Press/Tony Dejak

3. And eight of America's richest billionaires have experienced wealth gains exceeding $1 billion from January 1 to April 2020.

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2. Of the wealthiest 170 American billionaires, 34 have seen their total net worth increase by tens of millions of dollars during 2020.

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1. America's 614 billionaires have a collective net worth exceeding $3 trillion thanks to a $3 billion wealth increase in less than a month during the coronavirus pandemic.

Jason McCawley/Getty Images

1. America's 614 billionaires have a collective net worth exceeding $3 trillion thanks to a $3 billion wealth increase in less than a month during the coronavirus pandemic.

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9 mind-blowing facts about America's richest people

9. Between 2006 and 2018, the 400 wealthiest households in the US saw nearly 7% of the real increase (adjusted for inflation) in America's wealth.

8. And America's three richest billionaires — Jeff Bezos, Bill Gates, and Warren Buffett — own as much wealth as the bottom half of all US households combined.

7. The 400 richest Americans own as much wealth as America's bottom 64% — nearly two-thirds of the nation's household wealth.

6. In the past decade alone, US billionaire wealth almost doubled, increasing by 80.6% in 2020 dollars.

5. Between 1990 and 2020, US billionaire wealth increased by 1,130% in 2020dollars — 210 times faster than the 5.37% growth of US median wealth during the same time frame.

4. Since President Donald Trump took his seat in the Oval Office in 2017, America's billionaires have become 10.6% richer.

3. And eight of America's richest billionaires have experienced wealth gains exceeding $1 billion from January 1 to April 2020.

2. Of the wealthiest 170 American billionaires, 34 have seen their total net worth increase by tens of millions of dollars during 2020.

1. America's 614 billionaires have a collective net worth exceeding $3 trillion thanks to a $3 billion wealth increase in less than a month during the coronavirus pandemic.