No, America’s Billionaires Didn’t Get $434 Billion Richer During the Pandemic – Quite the Opposite, in Fact

by Steve Goldstein
Market Watch

Americans for Tax Fairness and the Institute for Policy Studies released a report showing a startling statistic: America’s billionaires got $434 billion richer amid the pandemic.

“The surge in billionaire wealth during a global pandemic underscores the grotesque nature of unequal sacrifice,” said Chuck Collins, one of the study’s co-authors.

Billionaire wealth may well be grotesque, but a sensible way of looking at the underlying data would lead to the conclusion that America’s richest individuals lost wealth during the crisis, not gained it.

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