This Is How Coronavirus Affected The Richest People In The World

Coronavirus is crippling the world economy in 2020. Experts say its effects would still be felt even several years later. However, the world’s billionaires do not seem to be that affected by the crisis.

COVID-19 affects global economies because everything has been brought to a halt. Flights have been suspended, and this directly affected tourism. Infrastructure and construction have also been prohibited while malls have been temporarily shut down. Businesses suffer because only takeout and deliveries are allowed. Amid all these nightmares that are happening, some people seem to get the better of the situation.

The world’s richest billionaires are expectedly going to receive a hit due to the pandemic. Some even lost their billionaire status. On the other hand, a few of them got richer during these very uncertain times. Looking at the numbers, it is very hard to not acknowledge the gains.

According to FOX Business, 2,095 billionaires were listed on March 18, before the pandemic spread globally. The combined net worth of the billionaires was about $8 trillion, which plummeted by as much as $700 billion when compared to the 2019 tally.

When talking about the world’s richest, the top 8 are virtually unchanged with just a few spots swapping positions. Per FOX, here are the top five richest people as of March 2020:

5. Larry Ellison

Ellison’s net worth in March was $59 billion. As the founder of Oracle, he can be considered as one of the titans inSilicon Valley. As with any other tech magnates in the U.S., his business took hardly a hit and his real-time net worth stands at $66.2 billion, per Forbes.

On the other hand, while he made the top five in March rankings, he placed only sixth in the billionaires list as of May 2020. This just proves that even though he added more money in his bank account, other billionaires are also gaining more financially during the pandemic.

4. Warren Buffett

Buffett’s name will always be on the richest list. Although he ranked fourth on the March list, he placed fifth in the May 2020 money rankings. The Oracle of Omaha had $67.5 billion in March and two months after he recorded a whopping $68.6 billion. Even though he placed lower on the recent list, Buffett would not exactly mind it as long as he still earns a lot.

3. Bernard Arnault and family

Arnault, the CEO of luxury brand LVMH, expanded his empire after acquiring Tiffany & Co. for $16.2 billion in 2019. With tourism nosediving during the pandemic, a lot of experts predict luxury brand sales to be affected massively. However, Arnault and his family proved otherwise. They were worth $76 billion in March 2020 but have accumulated a new $90.4 billion net worth during the COVID-19 outbreak.

2. Bill Gates

Gates talked about preparing for a pandemic in 2015. Fast forward to 2020 and the world is battling a pandemic it has never seen before. The Microsoft founder was able to hold the fort during the crisis and he maintained second runner-up position in the money game, he had $98 billion in March and it increased to $105.8 billion in the latest tally, which means he is still at the top of his game.

1. Jeff Bezos

Bezos occupying the top spot is not surprising, even before and during COVID-19. In March 2020, his net worth stood at $113 billion and two months later, he’s now worth $142.7 billion. As the CEO of Amazon, which delivers essentials during the pandemic, Bezos’s business is expectedly booming. However, critics question the safety and wellness of his company’s workers during these uncertain times.