Jeff Bezos and Elon Musk Broke Wealth Records in 2020
World Entrepreneurs

Jeff Bezos and Elon Musk Broke Wealth Records in 2020

The founder of Amazon and the creator of Tesla added profits of $ 217,000 million in the heat of the pandemic, according to the Bloomberg Billionaires Index.

NewsArea Staff NewsArea ME Editor

During 2020, the pandemic dealt a severe blow to the economy of millions of families around the world. Yet while some grappled with unemployment, lower wages, less purchasing power and low economic growth, billionaires like Jeff Bezos and Elon Musk generated record profits.

According to the Bloomberg Billionaires Index , 0.001% of the population benefited during the health crisis. This year, the world's 500 richest people added $ 1.8 trillion to their combined net worth and are now valued at $ 7.6 trillion.

This equates to a 31% increase and a 3 trillion rally from the market's lowest point in March. In addition, it is the largest annual gain reported in the eight-year history of the Bloomberg index.

In the top 25 tycoons, it stands out that there are five people with fortunes of more than 100 billion dollars. The next 20 have at least $ 50 billion. Together, the world's two richest men made roughly $ 217 billion in 2020.

Jeff Bezos, founder and CEO of Amazon, remains the richest person in the world. This is explained by the boom in online retail during lockdowns due to the coronavirus pandemic. In the last 12 months, Bezos' fortune grew 63%, thanks to the 72.7 billion dollars that he added to the 116 billion that he owned at the end of 2019.

Elon Musk had the highest earnings, possibly in the fastest time of wealth creation in history. The owner of SpaceX and Tesla rose to second place after the value of his electric vehicle company soared. In total, the businessman made about $ 144 billion from all of his businesses last year.

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