Covid has made them richer

Since Covid hit us in 2020, our billionaires have grown in number; their fortunes have increased by $2.1 trillion in that time. 130 new billionaires have been created. There are now 745 people with "10-figure bank accounts" compared to the 614 that existed when the pandemic first hit. These billionaires hold "two-thirds more than the $3 trillion in wealth held by the bottom 50% of U.S. households."

 
Much of these gains will go untaxed and will disappear entirely for tax purposes when they're passed onto the next generation. Billionaires are paying a mere 8 percent tax rate, lower than millions of working Americans.