Billionaire Wealth Reaches New High During COVID-19 Pandemic – UBS

The pandemic accelerated a trend of technology and healthcare entrepreneurs, and other business innovators, pulling ahead of their ultra-rich peers.

From 2018 through July 2020, tech billionaires saw their wealth rise 42.5% to $1.8 trillion, the report found, while billionaires deriving their fortune from healthcare similarly saw their wealth rise 50.3% during the period to $658.6 billion.

Just over 200 of those billionaires publicly committed some $7.2 billion to help tackle the COVID-19 pandemic, the study found, noting that billionaire donations to combat the medical crisis as well as the societal and economic turmoil it caused were likely actually higher.

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