Much of the jump in wealth came in the first year of the pandemic. A large part of the increase has been fueled by strong gains in the stock markets, which was aided by governments injecting money into the global economy to soften the financial blow of the coronavirus. It is timed to coincide with the kickoff of the annual World Economic Forum meeting in Davos, Switzerland, a gathering of some of the wealthiest people and world leaders.īillionaires have seen their total net worth soar by $3.8 trillion, or 42%, to $12.7 trillion during the pandemic.

The report, which draws on data compiled by Forbes, looks at the rise of inequality over the past two years. That means a new billionaire was minted about every 30 hours, on average, so far during the pandemic. Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668, according to an analysis released by Oxfam on Sunday. The Covid-19 pandemic has been good for the wallets of the wealthy.