The founding father of Amazon and the creator of Tesla added earnings of $ 217,000 million within the warmth of the pandemic, in accordance with the Bloomberg Billionaires Index.

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This text was translated from our Spanish edition utilizing AI applied sciences. Errors might exist attributable to this course of.

Throughout 2020, the pandemic dealt a extreme blow to the financial system of tens of millions of households around the globe. But whereas some grappled with unemployment, decrease wages, much less buying energy and low financial progress, billionaires like Jeff Bezos and Elon Musk generated document earnings.

In line with the Bloomberg Billionaires Index , 0.001% of the inhabitants benefited in the course of the well being disaster. This yr, the world’s 500 richest individuals added $ 1.8 trillion to their mixed internet value and at the moment are valued at $ 7.6 trillion.

This equates to a 31% enhance and a 3 trillion rally from the market’s lowest level in March. As well as, it’s the largest annual acquire reported within the eight-year historical past of the Bloomberg index.

Within the prime 25 tycoons, it stands out that there are 5 individuals with fortunes of greater than 100 billion {dollars}. The subsequent 20 have at the least $ 50 billion. Collectively, the world’s two richest males made roughly $ 217 billion in 2020.

Jeff Bezos, founder and CEO of Amazon, stays the richest particular person on this planet. That is defined by the increase in on-line retail throughout lockdowns as a result of coronavirus pandemic. Within the final 12 months, Bezos’ fortune grew 63%, due to the 72.7 billion {dollars} that he added to the 116 billion that he owned on the finish of 2019.

Elon Musk had the very best earnings, presumably within the quickest time of wealth creation in historical past. The proprietor of SpaceX and Tesla rose to second place after the worth of his electrical automobile firm soared. In complete, the businessman made about $ 144 billion from all of his companies final yr.

Enhance in Asian fortunes

Chinese language members of the index added $ 569 billion to their wealth, greater than another nation aside from america.

Zhong Shanshan , the bottled water mogul Nongfu Spring, turned the richest particular person in Asia. Preliminary choices from two of his firms added $ 70.9 billion to his internet value. This yr he changed Mukesh Ambani, who’s president, CEO and largest shareholder of Reliance Industries, India’s largest non-public firm conglomerate.

The rise of video conferencing elevated the wealth of Eric Yuan, the Chinese language immigrant creator of Zoom Video Communications Inc. Additionally John Foley, CEO of Peloton Interactive Inc. turned a billionaire, due to the mixture of his routine app with earnings of sports activities gear, good for athletes who have been left and not using a gymnasium within the pandemic.

However, among the many millionaires within the area who didn’t prosper is Jack Ma. The now retired founding father of Alibaba Group Holding Ltd. began 2020 because the richest particular person in China, however every part modified after he criticized Chinese language regulators.

In November, the Chinese language authorities thwarted the itemizing of its Ant Group Co., and in December launched an investigation against Alibaba for alleged monopolistic practices . This triggered a drop within the worth of the net buying and selling firm’s inventory, which depleted his internet value and took him out of his job.

With info from Bloomberg .