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Almost 500 People Became Billionaires During The Pandemic.

Almost 500 People Became Billionaires During The Pandemic.

There are many of us who during the pandemic year focused only on surviving and nothing much. But there were some people out there who were working on achieving the billionaire status during these crises and they have successfully made it to the Forbes list.

The pandemic year has been generally tough on most people of the world, with people not only losing their source of earnings because of the lockdown situation but also the fear of the virus and losing the loved ones has taken a toll on the mental health. However, during this crisis, there are around 500 people who benefitted and have reached the status of a billionaire. 

On March 11, 2020, the World Health Organization officially labeled the coronavirus outbreak a pandemic. One week later, on March 18, 2020, Forbes took a snapshot of billionaire wealth and recorded 2,095 people who qualified for their World’s Billionaires list.

Given the circumstances, for many people making a decent paycheck was even difficult so it was a bit difficult to digest the Forbes list of around 2000 billionaires. However, the station has only worsened with time and one year down the lane the number has now reached 2,755 billionaires out there which means 493 new billionaires are added to the list.  

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A report released on April 6 by Forbes comments that the number of new billionaires breaks the record for the newest billionaires in a year which was approximately 290 in the year 2015 alone.

So the rate at which the world acquired a new billionaire worked out to be, on average, one every 17 hours. That means that at some point each day, while the rest of us were trying to survive and trying to keep our mental health sane, someone out there was becoming a billionaire.
 
The average net worth of the newcomers is $2 billion, and they have an average age of 54, compared to 63 for the overall list of 2,755 billionaires.

An impressive 84% of the fresh faces are self-made billionaires, meaning they founded their money-making companies themselves rather than inherited their wealth, as is the case for 72% of the overall list.

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The list is naturally topped by the Chinese leader last year when it came to acquiring billionaire status, bringing 205 people to the list including Chen Zhiping, chairman and CEO of vaping device-maker Smoore International, who is worth $15.9 billion, and Kate Wang, CEO of Chinese vaping company RLX Technology, who is worth $5 billion.
 
 Second place is held by the US as it churned out 98 new billionaires, including well-known names Kim Kardashian West, Tyler Perry, and Apple CEO Tim Cook.
A total of 36 countries have at least one new billionaire this year, with Germany in third place with 26 and Canada and India in joint fourth position with 19 each.

 

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The youngest person to not only make it to the billionaire list but also to being an adult is 18-year old Kevin David Lehmann, he is the heir to Germany’s leading drugstore chain, dm-drogerie market whose worth is around $3.3 billion. 
 
Austin Russell is the youngest self-made billionaire at 26 years old thanks to his creation of the laser lidar startup Luminar, which makes sensors that help self-driving cars see in 3D.

It is seen that this year young blood has made it to the billionaire list and the profile of each billionaire is impressive, but together they are worth a staggering $13.1 trillion – an increase of $8 trillion in 2020
 

Credit: PA

 

Source: UniLad

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