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NYC's Billionaires Have Amassed Fortunes During Pandemic: Forbes

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4Posted Fri, Apr 9, 2021 at 12:29 pm ETUpdated Fri, Apr 9, 2021 at 2:33 pm ETReplies (4)NEW YORK CITY – The coronavirus might have been devastating for New York City's economy but, for the super rich, the past year has been a massive money maker.In the past year 125 billionaires called New York state home, with the majority living in the city, according to Forbes magazine's Of those 125, only 19 lost money during the global pandemic. The vast majority increased their wealth by billions of dollars.In comparison, hundreds of thousands of New Yorkers lost their jobs in the past year and vast swaths of industry shut down. At its height last April, 14.6% of New Yorkers were unemployed compared to 3.7% the year before, The latest figures show unemployment rates in the city Meanwhile, New York City's wealthiest man, Michael Bloomberg, is worth $59 billion. That's a massive $11 billion more than Forbes He ranks 20th in the nation. To put that into context, the increase in his worth could pay more than 350,000 New Yorkers a minimum wage salary for a year. His total wealth could pay nearly 2 million people for a year.Other wealthy New Yorkers on the list include: Julia Koch &amp; Family Jim Simons Alain Werthmeier The number of billionaires internationally on Forbes’ 35th annual list jumped to an unprecedented 2,755 people, 660 more than a year ago. Altogether, they are worth $13.1 trillion, up from $8 trillion in 2020. The numbers will likely spark outrage, writes Forbes Chief Content Officer Randall Lane. “There’s no getting around a collective $5 trillion wealth surge during a pandemic, when most of the world felt scared, sick, besieged,” he wrote in a comprehensive essay titled “." In New York's budget, agreed on this month, hefty increases in taxes for the rich have sparked worries that they'll leave the state, A record 493 people made their debut on this year’s list. Another 250 who’d fallen off in the past made a reappearance, according to Forbes. This year’s list includes a record 328 female billionaires, up from 241 in 2020. Soon-to-be-former Amazon CEO Jeff Bezos retained the top spot on this year’s list for the fourth consecutive year. He's worth $177 billion, $64 billion more than a year earlier. Bezos, who founded the e-commerce giant out of his garage in Seattle, Washington, will step down as CEO at the end of this year. See the full .Get more local news delivered straight to your inbox. Replies (4)Show previous 4 repliesPolitics &amp; Government5hCommunity Corner1dHealth &amp; Fitness4d + Add your event + Add your classified

4Posted Fri, Apr 9, 2021 at 12:29 pm ETUpdated Fri, Apr 9, 2021 at 2:33 pm ETReplies (4)NEW YORK CITY – The coronavirus might have been devastating for New York City's economy but, for the super rich, the past year has been a massive money maker.In the past year 125 billionaires called New York state home, with the majority living in the city, according to Forbes magazine's Of those 125, only 19 lost money during the global pandemic. The vast majority increased their wealth by billions of dollars.In comparison, hundreds of thousands of New Yorkers lost their jobs in the past year and vast...

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NYC's Billionaires Have Amassed Fortunes During Pandemic: Forbes

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