US billionaires 'have received $1.1tn windfall in Covid pandemic'


Billions made by richest 660 people could pay for all of coronavirus relief package, says IPS thinktank

The richest 660 people in the US have collected a $1.1tn (£800bn) “windfall of wealth” since the coronavirus pandemic began, according to a report by a US progressive thinktank, the Institute for Policy Studies.

The report found that the collective wealth of America’s 660 billionaires has risen by 39% since the World Health Organisation declared that Covid-19 was a pandemic virus in March 2020.

Related: Covid-19 has cost global workers $3.7tn in lost earnings, says ILO

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