U.S. billionaires' net worth jumps nearly one-third as working families suffer

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The wealth of Tesla chief executive Elon Musk skyrocketed 277 percent from March to October. Meanwhile, almost 62 million Americans lost work between March 21 and September 19.

As the coronavirus ripped through Wall Street this year, ending a record bull market run, technology giants have emerged stronger than ever, lining the pockets of their owners and investors.skyrocketed 277 percent, or $68.2 billion, from March to October to $92.8 billion as shares increased more than five-fold since the start of the year.

Jeff Bezos' wealth jumped 80 percent, or $90.1 billion, higher during the period, while Bill Gates and Mark Zuckerberg saw a 20 percent and 85 percent rise respectively.In contrast, as 98,000 businesses permanently closed across the country, almost 62 million Americans lost work between March 21 and September 19, according to the U.S. Department of Labor. Some 25 million people were still collecting unemployment benefits on September 19.

 

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