THE GUARDIAN: The 10 richest dynasties, such as those behind Walmart and Mars, grew their net worth by $136bn during the pandemic, report finds
Self-made billionaires including Jeff Bezos and Elon Musk made huge profits during the Covid-19 pandemic but a new report shows there’s no beating family money when it comes to getting – and staying – really, really rich.
Ten of the US’s richest families, including the Walmart family and the dynasties behind industries including candy and cosmetics, also saw their assets balloon over the pandemic, with a shared increase in their combined net worth of over $136bn in 14 months, according to a report by the Institute for Policy Studies (IPS) published on Wednesday.
The report, Silver Spoon Oligarchs, details how these families have not only increased their wealth by billions in the last year, but have also worked to ensure the system supports this exponential growth over decades. » | Amanda Holpuch in New York | Wednesday, June 16, 2021
