<img src="https://trc.taboola.com/1321591/log/3/unip?en=page_view" width="0" height="0" style="display:none">
Fact Check Library

Fact Check with Logically.

Download the Free App Today

true
true

CLAIM ID

ab3b6aef

American billionaires got $300-400 billion richer during the COVID-19 pandemic.

Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the biggest gains, with Bezos adding $34.6 billion and Zuckerberg $25 billion to their wealth.

Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the biggest gains, with Bezos adding $34.6 billion and Zuckerberg $25 billion to their wealth.America’s billionaires saw their fortunes soar by $434 billion during the lockdown between mid-March and mid-May, according to a report from Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality.

As per the report, Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the most significant gains. Bezos added $34.6 billion to his wealth, and Zuckerberg added $25 billion. The report is based on Forbes data for America’s more than 600 billionaires between March 18 and May 19.

According to the report, America’s billionaires’ net worth grew 15% during the two months, to $3.382 trillion from $2.948 trillion. The biggest gains were at the top of the billionaire pyramid. The top five billionaires, Bezos, Bill Gates, Zuckerberg, Warren Buffett, and Larry Ellison, saw a combined wealth gain of $76 billion.

Therefore, the claim is true.

The COVID-19 pandemic has given rise to a lot of potentially dangerous misinformation. For reliable advice on COVID-19 including symptoms, prevention, and available treatment, please refer to the World Health Organisation or your national healthcare authority.

Have a question or correction on one of our fact-checks?

If you think a claim has been misjudged or requires correction, please send us evidence to support your error claim. We will revisit our evidence and verdict and conduct additional research to verify new information.

Fact Check of the Day

misleading

397 children were diagnosed with heart inflammation after receiving Pfizer’s COVID-19 vaccine in U.S.