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Billionaires' Wealth Hit New Record High Amid Pandemic; Moves Past $10 Trillion


A report by PWC and UBS claims that Covid 19 has led to a wide surge in the wealth of the world's billionaires' and amid a continued spike in IT and healthcare stocks the wealth surpassed even the $10 trillion level.


As per the report during the early days of the pandemic wealth of more than 2000 billionaires, representing 98% of their combined wealth registered of almost 25 percent to scale levels of $10.2 trillion in the month of July, going past the earlier recorded level of $8.9 trillion as at the end of 2019.

Billionaires' Wealth Hit New Record High Amid Pandemic; Moves Past $10 Trillion

Also, as per the study details by these global companies during the month of April to July, wealth of billionaires spiked in 2-digits and the surge was even higher for billionaires from healthcare, technology and industrial workers with gains of between 36-44 percent.

Tech scions from 2018 through July 2020, took their wealth to 42.5% higher at $1.8 trillion, while for the healthcare billionaires their capital zoomed to #658.6 billion, rising 50.3 percent.

Also more than 200 billionaires from the group committed on a combined basis $7.2 billion for supporting the Covid 19 panemic

Read more about: wealth coronavirus billionaires
Story first published: Wednesday, October 7, 2020, 13:37 [IST]
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