Economy & Politics

Billionaires get even richer in the corona crisis

Only the super-rich have reason to celebrate during the pandemic. Your wealth reaches a new record high. (Symbol image) Photo: dpa / Frank Rumpenhorst

During the corona pandemic, many people complain of financial losses. Those who are benefiting from the crisis are the super-rich: billionaires’ fortunes have hit new records

Zurich – The fortunes of billionaires have reached a new record in the wake of the coronavirus crisis. At the end of July 2020, the nearly 2,200 richest around the world owned 10.2 trillion dollars in securities, company shares, real estate and other assets, according to a study published on Wednesday by the major Swiss bank UBS and the consulting firm PwC. The previous peak of 2017 was $ 8.9 trillion. The increase was mainly due to rising security prices. The number of billionaires increased only marginally during the period.

But while the billionaires from practically all industries have been able to increase their fortunes over long stretches of the past decade, the opposite trend has occurred in the last two years. Technology pioneers such as Tesla driver Elon Musk or the Chinese pharmaceutical entrepreneur Zhong Huijhan were able to increase their wealth by leaps and bounds. In contrast, many whose wealth comes from less innovative industries such as real estate and raw materials have recently had to digest losses.

A good third of the billionaire’s fortune goes to the United States. This is followed by China and Germany. In the largest European economy, the 119 billionaires have a total wealth of 595 billion dollars.


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