Information about the richest people in America is just out there. With a simple click of the button, you’d be able to find their overall wealth. The truth is, America’s richest people continue to grow wealthier by the minute. Here are six amazing facts that you may (or may not know) about the wealthiest Americans.
America’s 614 billionaires combine for over $3 trillion in net worth.
You read that right. This is thanks to a $300 billion increase in their wealth even during the COVID-19 pandemic. In March 2020, Forbes reported that they have a collective net worth of $2.9 trillion. A month later, the platform reported that their collective net worth has spiked to $3.2 trillion.
Eight billionaires have increased their wealth by at least $1 billion- in three months.
Eight billionaires have increased their wealth by $1 billion from January to March 2020. Some have experience slight dips in their net worth following their pandemic. The story is different for some though. There’s Eric Yuan, founder of Zoom. He recorded an uptick of at least $1 billion even amidst the pandemic. This is thanks to people supporting his video conferencing platform.
Another notable figure is Jeff Bezos. With people preferring contactless shopping; Amazon has provided them with their necessities.
America’s billionaires have increased their wealth by 10.6% since Trump assumed office.
In 2017, America had 565 billionaires with a combined net worth of $2.7 trillion. If converted in 2020 figures it would result in $2.92 trillion. This means that over the three-year span, America’s 629 billionaires built a collective net worth of $3.229.
According to Business Insider, this could be attributed to Trump’s tax reform law. Despite all Americans receiving a tax cut, it proves to be extremely beneficial to billionaires. Their wealth will receive a larger average tax cut as a percentage of their after-tax income.
In a 30-year span, US billionaire wealth increased by 1,130% since 1990.
Viewing it in the same time frame, US billionaire wealth increased 210 times faster than the US median wealth of 5.37%.
In the last decade alone, US billionaire wealth increased by 80.6%
The percentage increase was five times the median wealth increase of 15.1% for US households from 2010-2016.
Three of America’s wealthiest people, own as much wealth as the bottom 50% of US households.
Jeff Bezos has an estimated net worth of $114 billion. His wealth increased by $25 billion in the first quarter of 2020. Gates has a net worth of $106 billion. Buffet with $80.8 billion.
If you’re dreaming to become part of this elite class of ultra-wealthy individuals, you might want to read some of the lessons from self-made billionaires here.
Opinions expressed by AsianBlurb contributors are their own.
The editorial team for AsianBlurb.
