Almost every day of the coronavirus pandemic a new billionaire emerged, according to Oxfam

At least 573 people have become billionaires since the start of the coronavirus pandemic. coronavirus COVID-19 in 2020. This was revealed by an analysis published by Oxfam.

The report ensures that, with this increase, the number of rich people reached 2,668 worldwide. That means a new billionaire emerged every 30 hours, according to CNN.

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According to the report, billionaires saw their total net worth increase by $3.8 trillion to $12.7 trillion during the pandemic. This index, which is based on data compiled by Forbes magazine, exposes and analyzes the increase in inequality in the last two years.

As detailed by CNN, the increase in millionaires was fueled by profits made on the stock markets. In other cases, these individuals received aid from governments, which injected money to soften the financial blow caused by the coronavirus.

However, growing inequality and rising food prices due to COVID-19 and other factors could push 263 million people into extreme poverty this year, causing a big setback, he said. Oxfam.

“I have never seen such a dramatic growth in poverty and wealth at the same time in history,” said Max Lawson, head of inequality policy at Oxfam.

As detailed by CNN, 49 new billionaires came from the pharmaceutical industry, which has been at the forefront of the battle against covid-19, receiving private investment and benefiting from billions in public funds.

The net worth of rich men in the hydrocarbon sectors has increased by $53 billion, or 24%, in the past two years.

On the other hand, food and agribusiness billionaires saw their profits increase by $382 billion, or 45%, since 2020. This allowed the emergence of 62 food billionaires.

Among the top 10 richest people in the tech world are Tesla’s Elon Musk, Amazon’s Jeff Bezos and Microsoft’s Bill Gates. They saw their wealth increase from $436 billion to $934 billion.

Source: Elcomercio

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