2020 brought in the ongoing coronavirus pandemic, which wasn’t too kind on people and most of them struggled with business thanks to the continuous lockdowns. However, some of the richest people on earth like Elon Musk weren’t that affected by the pandemic compared to the rest of the world.
According to research from the Visual Capitalist, the top fifteen billionaires in the world saw average profit growth of 57 per cent between March and December 2020. The biggest winner was Musk, who saw his net worth grow a staggering 525 per cent over the course of the year. The Tesla CEO started 2020 with only US$25 billion. However, Musk now has US$154 billion in the bank. Those gains are mainly because Tesla’s stock price skyrocketed, while his other company SpaceX doubled in market value after an incredible success in the private space sector.
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Others include Jeff Bezos, whose net worth increased 69 per cent due to increased dependence on e-retail during the pandemic. Mark Zuckerberg also grew his personal fortune by 86 per cent. Nike’s Phil Knight also made the big list, with 75 per cent rise in the net worth. The platform also points out that it’s not just American billionaires that have been making money but the billionaire wealth across the globe on average has increased by 27 per cent during the same period.