The Top 500 Billionaires Earned More in 2020 Than 165 Million Americans Will in Their Entire Lives

12 million people owe roughly $6,000 USD in back rent.

Entertainment
32,157 Hypes 35 Comments

Bloomberg‘s year-end report on the wealth of the world’s top billionaires shows that the richest 500 people on the planet added $1.8 trillion USD to their combined wealth in 2020, accumulating a total net worth of $7.6 trillion USD. Fueling the old saying “The rich get richer and the poor get poorer,” where 2020 was stricken with worldwide poverty due to the COVID-19 pandemic (loss of jobs and looming bills) The Bloomberg Billionaires Index recorded a historic 31 percent increase for the wealthy.

To put it all into perspective, Dan Price, entrepreneur and advocate for fair wages tweeted, “the 500 richest people in the world amassed as much wealth in 2020 as the poorest 165 million Americans have earned in their entire lives.” With this continued trend, the future does look bleak as it is forecasted that the pandemic is set to send over 207 million people into levels of “extreme poverty,” taking the toll to one billion by the year 2030. It was also revealed that 26 million Americans could not afford basic groceries which largely factored into the increase in crime last November. This issue will only get worse considering approximately 12 million people now owe roughly $6,000 USD in back rent to their landlords.

The list for the top five billionaires and their 2020 growth can be found below:

Top 5 Richest Billionaires

Jeff Bezos – $190 Billion USD (+$75.4B USD)
Elon Musk – $170 Billion USD (+$142B USD)
Bill Gates – $132 Billion USD (+$18.6B USD)
Bernard Arnault – $114 Billion USD (+$9.15B USD)
Mark Zuckerberg – $104 Billion USD (+$25.2B USD)

In other news, Elon Musk’s net worth grew 524% during COVID-19.

Read Full Article

What to Read Next

The Lifestyle-Centric New Balance 57/40 Model is Unveiled
Footwear

The Lifestyle-Centric New Balance 57/40 Model is Unveiled

Serving as a modernized variation of the classic 574.

London's Design Museum Honors Pioneers Club Culture in 3D Show
Art

London's Design Museum Honors Pioneers Club Culture in 3D Show

Paying homage to electronic greats such as Kraftwerk and The Chemical Brothers.

This PlayStation 1 Game Was Recently Completed After Two Decades
Gaming

This PlayStation 1 Game Was Recently Completed After Two Decades

You can now download the game.

Closer Look at Carmelo Anthony's Air Jordan 35 "Carmerlot" PE
Footwear

Closer Look at Carmelo Anthony's Air Jordan 35 "Carmerlot" PE

A nod to Melo’s affinity for fine vino.

Yayoi Kusama Will Present Her Largest 'Infinity Mirror Room' at Tate Modern
Art

Yayoi Kusama Will Present Her Largest 'Infinity Mirror Room' at Tate Modern

Alongside a presentation of photographs chronicling the artist’s prolific career.


LOEWE Delivers Blanket-Inspired Fringed Flannel Shirt
Fashion

LOEWE Delivers Blanket-Inspired Fringed Flannel Shirt

A continuation of Jonathan Anderson’s play on visual identity.

Nike Air Max 95 "Champagne" Is More Than a CDG HOMME PLUS Collaboration Alternative
Footwear

Nike Air Max 95 "Champagne" Is More Than a CDG HOMME PLUS Collaboration Alternative

The new pair sports a colorway similar to last year’s collab alongside a mixture of suede, leather, and ripstop.

Reebok's Club C Legacy Sees the Tennis Classic Reworked for 2021
Footwear

Reebok's Club C Legacy Sees the Tennis Classic Reworked for 2021

Sporting deconstructed elements, a mixed material upper, a clear midsole and more.

Nike’s Pegasus Trail 2 Adopts “Thunder Blue” Colorway
Footwear

Nike’s Pegasus Trail 2 Adopts “Thunder Blue” Colorway

Set to land early this year.

Steph Curry Sets Career High With Explosive 62-Point Game
Sports

Steph Curry Sets Career High With Explosive 62-Point Game

The first of many personal and league bests of the night.

More ▾
 
We got you covered. Don’t miss out on the latest news by signing up for our newsletters.

By subscribing, you agree to our Terms of Use and Privacy Policy.
We got you covered. Don’t miss out on the latest news by signing up for our newsletters.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.