COVID-19

World’s billionaires get even richer during COVID-19 pandemic

Published

on

The coronavirus pandemic has made the super-rich around

the globe even richer, according to a study by consulting firm PwC and the major Swiss bank UBS.

At the end of July, the total assets of the world’s more than 2,000 billionaires had risen to a record

level of around 10.2 trillion dollars, according to the analysis, publishe on  Wednesday.

This level surpasses the previous peak of 8.9 trillion dollars, reached at the end of 2017.

The increased wealth of the super rich came thanks in part to the recovery of stock markets, while

investments in fast-growing areas such as technology and health care in particular proved to be drivers

of wealth, according to the study.

There are currently 2,189 men and women who have fortunes of more than a billion dollars.

Cash, real estate and luxury goods as well as stocks and corporate assets were taken into account in assessing

their fortunes, while liabilities were deducted.

In Germany, the net assets of the ultra-rich rose to 594.9 billion dollars by the end of July, following a slump

at the beginning of the coronavirus pandemic.

The number of billionaires in the country grew from from 114 to 119 members.

For the report, UBS and PwC analysed data from 2,189 billionaires in 43 countries and conducted

interviews with 60 billionaires.

Edited By: Halima Sheji/Hadiza Mohammed-Aliyu
Source: NAN

EndSARS: Makinde shuts schools in Ibadan Gov. Lalong seeks FG’s support on potatoes, tomatoes, processing South South groups urge FG to take control of gold derivatives in Zamfara Nigeria loses N1.06trn oil revenue target to COVID-19 – NNPC EndSARS protest : Police confirm burning of 3 trucks, rape of 3 girls in Ekiti Gov. Emmanuel presents N435.65bn budget for 2021 to lawmakers #EndSARS: Senate asks Buhari to address nation ENDSARS : Gov. Fintiri approves Judicial Panel of Inquiry #EndSARS: Youths embark on peaceful protest in Rivers Delta Assembly approves concessioning of Asaba Airport Agency targets 1m Anambra children for ‘Men A’ vaccine, says official Niger Speaker sympathises with victims of tanker explosion EndSARS protest: Ondo Govt.closes schools NOA tasks religious leaders on sexual and gender-based violence in Kano #EndSARS: Hoodlums take over Ilesha-Ife-Ibadan expressway, extort motorists #EndSARS protest: IPMAN, MOMAN sue for peace Afghanistan wants right to freedom of expression to remain in constitution Association decries increase in administrative charge of imported base oil  Senate confirms nominations of Chairman, DG of PenCom,others Russia to launch mass COVID-19 vaccination in November – official Enugu Govt pledges to connect communities with good road network before 2023 Buhari inaugurates NPF Pensions House, reiterates commitment to welfare of Police Officers Sudan’s removal from United States terrorism list not linked to ‘Any Other Case’ – FM Biosafety Agency inducts staff members into anti-corruption unit Borno civil service needs reforms to restore lost glory – SSG EndSARS : Armed hunters give security cover to protesters in Osun Restorative justice practitioners should be in #EndSARS judicial panels of inquiry – Lawyer  NMA seeks full implementation of Residency Training Act Senior legislator stresses improving overseas Chinese affairs EndSARS’ protest: Ondo Varsity shut down Malian military delivers more humanitarian cargo to village occupied by militants Reps committee unhappy with minister’s absence at investigation on donor funds in N/East China, NAN pledge to foster news exchange relationship United States govt files antitrust lawsuit against Google Somalia arrests 10 suspects for cheetah trafficking 60,000 volunteers receive Chinese COVID-19 vaccines during phase-3 trials Businessman files $1bn suit against Twitter CEO, over alleged #ENDSARS Protest sponsorship Judge orders man to sweep court premises for 7 days for stealing plantain Police condemn burning of Orile station by hoodlums Ekiti govt. orders closure of schools over #EndSARS protest #EndSARS protest: Senate asks Buhari to address nation Sahara Group urges global private sector collaboration to boost food security Army kill 18 militants in southern Somali Blockade enters day-2 in Shomolu LGA, as protesters continue to ignore govt concessions Namibia’s biomass sector increases employment opportunities by 6,000 in 5 years ENDSARS: Abuja youths urge protesters to remain peaceful Over 220,000 impoverished former drug users shake off poverty in China Russia to freeze warheads total to extend nuclear pact with United States Thousands join protest against Indonesia jobs law Farmers/herders’ conflict: Monarch sues for peaceful coexistence