Billionaires’ wealth rises to $10.2 trillion amid Covid crisis

Super-rich increase fortunes by more than a quarter during market turmoil

The world’s billionaires “did extremely well” during the coronavirus pandemic, growing their already-huge fortunes to a record high of $10.2tn (£7.8tn).

A report by Swiss bank UBS found that billionaires increased their wealth by more than a quarter (27.5%) at the height of the crisis from April to July, just as millions of people around the world lost their jobs or were struggling to get by on government schemes.

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