July 2020 saw billionaire wealth hit a new high of $10.2 trillion while U.S. unemployment was 10.2%, a sign of deepening economic inequalities. Since 2000, the growth of billionaire wealth has been 200 times greater than median wealth growth. Between March 2020 and September 2020, the 643 wealthiest Americans added an extra $845b in combined assets, while the global poverty rate is expected to increase for the first time since 1990.
- From Jan. 1, 2018 to July 31, 2020, technology billionaires' wealth increased by 43%, healthcare billionaires by 50%, and billionaires as a whole by 19%.
- Donations by billionaires are also at an all-time high, with $7.2b donated by 209 billionaires between March 2020 and June 2020.
- The Institute of Policy Studies reports that American billionaires have seen a 79% decrease in their tax liabilities from 1980 to 2018.