The pandemic caused a series of billionaires to lose a large fortune when the US stock market plummeted in March. However, the recovery momentum of the market after that has helped many people regain their lost assets, and even rise beyond the beginning.
Using real-time data from Forbes, GoBankingRates found that 7 billionaires in the top 50 richest people in the world had raised their assets to more than 1.5 times of the original during the period between 18th March and 4th June. March 18 was the one-week mark after Covid-19 was declared a pandemic and two days after the DJIA recorded one of the worst declines in history. 4th June 4/6 was the time when the states in the US started to open blockades.
Tesla and SpaceX CEO Elon Musk made the list with a 55% increase in assets to more than $ 38 billion, thanks in part to a rise in Tesla stock. Musk currently holds nearly 39 million electric vehicle stocks and received a reward of more than $ 700 million in May.
Another billionaire who has benefited greatly is Facebook’s boss Mark Zuckerberg. As of early June, he owned more than 83 billion USD, increasing by nearly 29 billion USD. Currently, Zuckerberg holds about 400 million Facebook shares. He has also contributed more than $ 150 million to charities related to Covid-19 via Facebook and the Chan-Zuckerburg Foundation.
Here is a list of 7 billionaires whose assets increased by more than 50% during the epidemic season:
Dieter Schwarz – the boss of the retailer Schwarz Group (Germany)
Mukesh Ambani – the president of Reliance Industries (India)
Elon Musk - the CEO Tesla/SpaceX/The Boring Company (America)
Alain Wertheimer - the co-owner of Chanel (France)
Gerard Wertheimer - the co-owner of Chanel (France)
Mark Zuckerberg - the CEO of Facebook (US)
Tadashi Yanai - the boss of Fast Retailing, a fashion retail company (Japan)