After the Covid-19 pandemic had hit the world in 2020, the whole world has suffered from severe economic collateral damage; however, the world’s 2,365 billionaires have been adding trillions of dollars to their pockets.
From March 2020 to March 2021, billionaires around the globe pocketed a thrilling $4 trillion amid the Covid-19 pandemic lockdown, according to a report from the Institute for Policy Studies (IPS).
Billionaires have increased their wealth by 54%, and they currently have $12.39 trillion in total; enough to pay for vaccines for the whole world. Meanwhile, the world’s richest 20 people alone have added $742 to their collective wealth; a 68% increase.
IPS has tracked the world’s billionaire gains since the pandemic started. The institute said that the gains could end the global hunger around the world and put an end to poverty on planet earth. Meanwhile, 200 million to 500 million have fallen into poverty in 2020.
Billionaires are not helping
According to the same report; American billionaires only have a third of the global wealth. Nevertheless, billionaires such as Amazon CEO Jeff Bezos – the richest person in the world and who earned billions during the pandemic are not helping.