{"id":174858,"date":"2020-12-14T12:00:43","date_gmt":"2020-12-14T12:00:43","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=174858"},"modified":"2025-01-10T15:08:51","modified_gmt":"2025-01-10T15:08:51","slug":"net-worth-of-us-billionaires-has-soared-by-1-trillion-to-total-of-4-trillion-since-pandemic-began","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2020\/12\/net-worth-of-us-billionaires-has-soared-by-1-trillion-to-total-of-4-trillion-since-pandemic-began\/","title":{"rendered":"Net Worth of US Billionaires Has Soared by $1 Trillion to Total of $4 Trillion Since Pandemic Began"},"content":{"rendered":"

Wealth Increase in 9 Months Exceeds Likely $908 Billion Cost of Covid Relief Package GOP Has Stalled as Too Costly<\/em><\/p><\/blockquote>\n

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10 Dec 2020 –<\/em> The collective wealth of America\u2019s 651 billionaires has jumped by over $1 trillion since roughly the beginning of the COVID-19 pandemic to a total of $4 trillion at market close on Monday, December 7, 2020. Their wealth growth since March is more than the $908 billion in pandemic relief<\/a> proposed by a bipartisan group of members of Congress, which is likely to be the package that moves forward for a vote in the next week, but has been stalled over Republican concerns that it is too costly.<\/p>\n

The total net worth of the nation\u2019s 651 billionaires rose from $2.95 trillion on March 18\u2014the rough start of the pandemic shutdowns\u2014to $4.01 trillion on Dec. 7, a leap of 36%, based on Forbes<\/em> billionaires, according to a new report<\/a> \u00a0by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). By around March 18 most federal<\/a> and state<\/a> economic restrictions in response to the virus were in place. Combined, just the top 10 billionaires are now worth more than $1 trillion.<\/p>\n

Forbes\u2019 annual billionaires report was published March 18, and ATF and IPS collected the real-time data on Dec. 7 from the Forbes<\/em> website. The methodology of this analysis has been favorably reviewed by PolitiFact<\/a>. The ATF-IPS analysis also looks at wealth growth since February 2019\u2014the date of Forbes\u2019 immediately previous annual billionaires report published well before the start of the pandemic and resulting market gyrations.<\/p>\n

The $1 trillion wealth gain by 651 U.S. billionaires since mid-March is:<\/strong><\/p>\n