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The 5 tech billionaires worth more than 80 countries
The COVID-19 pandemic has seen the rich become richer, while the poor have lagged behind, with five tech billionaires now worth as much as 80 countries, according to new research.
The 5 tech billionaires worth more than 80 countries
The COVID-19 pandemic has seen the rich become richer, while the poor have lagged behind, with five tech billionaires now worth as much as 80 countries, according to new research.
A study by Aksje Bloggen showed that as the world moved into lockdown, the reliance on technology has seen the top five tech billionaires’ combined wealth reach $567 billion.
According to Forbes and International Monetary Fund data, this increase in wealth means the five tech billionaires have a combined net wealth that is greater than the GDP of Austria, Norway or the United Arab Emirates.
Before announcing he will step aside as CEO at the end of the year, founder Jeff Bezos saw his wealth increase by over 65 per cent as the world switched to online shopping.
“Amazon products have become one of the most demanded in the world during the pandemic, as it keeps providing tech items, groceries and entertainment to people amid lockdown. Because of the high demand for its services, the company had to hire an additional 175,000 workers to keep up with surging demand,” Aksje Bloggen said.
According to the Forbes billionaire list, the COVID-19 has helped Amazon founder and CEO Jeff Bezos to grow his wealth by $74 billion in the last year, with his net worth reaching $187 billion this month.
The International Monetary Fund data showed that this figure is closest to New Zealand and Iraq’s GDP, which ranked 52nd and 53rd globally, with $193.5 billion and $178.1 billion, respectively.
Bill Gates, the Microsoft founder, is the second wealthiest person in the US tech industry and globally. The net worth of the billionaire working with the WHO and drug makers to defeat the coronavirus is currently standing at $120 billion. Statistics show that Mr Gates’ wealth grew by $22 billion in the last year and is now closest to Morocco’s GDP, which ranked 59th globally.
As the fifth-largest tech company globally, Facebook has also witnessed impressive growth in 2020. The Facebook shares rose by 26 per cent in the last year, pushing its CEO’s fortune up by $39 billion to $93.7 billion. This figure means that Mark Zuckerberg’s wealth is $700 million above Puerto Rico’s GDP, which stands at $93.9 billion.
The chairman, chief technology officer and co-founder of software giant Oracle, Larry Ellison, and co-founder of Google Larry Page ranked as the fourth and fifth tech billionaires globally, with $84.9 billion and $80.4 billion in net worth as of this month. Their wealth is the closest to Sri Lanka and Dominican Republic’s GDP, which ranked 66th and 67th globally, with $81.1 billion and $77.8 billion, respectively.
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