In 2020, the world’s billionaires have become even richer despite the pandemic and financial crisis

In 2020, the world's billionaires have become even richer despite the pandemic and financial crisis

In 2020, due to the coronavirus pandemic, the world was on the verge of financial collapse: states are borrowing more and more, people are losing their jobs at record rates, entire industries are on the verge of collapse — while the incomes of the world's richest people continue to grow.

According to a new report by the Swiss bank UBS, in 2020 the number of billionaires has grown from 2,158 to 2,189 people. In addition, the wealthy have multiplied their fortunes by $ 7.8 trillion. pounds sterling (27.5%).

In particular, the richest man in the world, Jeff Bezos, increased his fortune by $ 74 billion: now it is $ 189 billion. Tesla founder Elon Musk, in turn, grew rich by $ 103 billion after his fortune increased by $ 76 billion.

In an interview with The Guardian, High Pay Center executive director Luke Hilliard said he saw the report as «a sign that capitalism is not working properly.»

“The wealth of a billionaire is a fortune that would be impossible to spend even in a few lifetimes in absolute luxury,” he explains.

«Anyone who has accumulated money on this scale can easily afford to raise the salaries of their subordinates or pay more taxes to support the work of vital government agencies, while continuing to enjoy the profits.»

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