The COVID-19 Pandemic has wiped out businesses; destroyed financial institutions and has effectively raised unemployment the world around. However, COVID-19 seems to have skipped a few businesses along its destructive path. Ironically, it has made certain businesses prosper. Facebook and Amazon are among the businesses that have boomed during this pandemic, the result of which has made Mark Zuckerberg and Jeff Bezos richer.
Reports say the fortunes of Tech Billionaires spiked 15 percent in the first two months since the Corona Virus Pandemic hit. However, Jeff Bezos and Mark Zuckerberg in particular have seen their companies’ stocks grown in leaps and bounds within the few months of Covid-19. It is estimated that their individual wealth has risen more than 20 percent
Between March 18 and May 19, their total net worth increased by $434 billion. Bezos’ wealth increased by over 30 percent to $147.6 billion, while Zuckerberg’s fortune rose by more than 45 percent to $80 billion, according to the research by Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality.
It is safe to say that the TECH industry is the safest for investment in this period.