The world’s ten richest people more than doubled their wealth during the COVID-19 pandemic, according to an Oxfam International report.
Elon Musk, CEO of Tesla and SpaceX, Jeff Bezos of Amazon, Google founders Larry Page and Sergey Brin, Mark Zuckerberg of Facebook, Bill Gates and Steve Ballmer, former CEO of Microsoft, former CEO of Oracle Larry Ellison, US investor Warren Buffett and President French luxury sector Bernard Arnault.
And the wealth of the richest one of them, Elon Musk, increased by 1016%.
The report notes that these people collectively own more wealth than 3.1 billion people on Earth, and if they spend $1 million a day, their wealth will not be fully spent until 414 years later. At the same time, in general, at the moment there are only 2,800 billionaires in the world.
“The massive growth in the fortunes of billionaires at a time of rising poverty is exposing the fundamental flaws in the economy,” said Danny Shrishkandaraga, chief executive of Oxfam.