Billionaires Making a Killing on the COVID-19 Pandemic

Union Bank of Switzerland and the giant PriceWaterhouseCoopers accounting firm have released a study which sampled 2,000 billionaires representing some 98% of the cohort’s total wealth, and “found billionaire wealth grew by more than a quarter during the early months of the pandemic to reach $10.2 trillion in July, breaking the previous record of $8.9 trillion at the end of 2019,” according to a Reuters report. “Between April 7 and July 31 this year, billionaires across every industry covered by the study saw their wealth rise by double digits, with billionaires in the technology, healthcare and industrial sectors leading the pack with 36%-44% gains.”