Billionaire Wealth Hits $10 Trillion For First Time Ever Thanks To Government Stimulous

Coronavirus has boosted total billionaire wealth to its highest level ever. Since the pandemic begun, the total wealth held by billionaires around the world has grown by a quarter to over $10 trillion.

The landmark co-insides with another in the billionaire world, that of the world’s first ever $200 billionaire. Jeff Bezos’s net worth crossed the $200 mark in August, just when UBS and PwC were tallying up the data for its annual report on billionaires.

That report, released on Wednesday (7 October), shows that collective billionaire wealth has grown at its fastest rate over any period over the past decade.

Between April and July, billionaires grew their wealth by 27% from $8 trillion at the beginning of April. This was largely thanks to government stimulus packages.

“Billionaire wealth is loosely correlated with

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