According to data from the Spectrum Group’s Market Insights Report, the number of millionaires in the US has plummeted by 500,000 just in a couple of days. Comparing the figures, the agency stressed that at the end of 2019, there were 11 million American millionaires but at the beginning of 2020, the number of wealthy Americans dropped by more than 500,000. The global economic crisis caused by the coronavirus epidemic, as well as the collapse in oil prices, have significantly affected the well-off Americans. Therefore, many richest people in the US have experienced severe fallout as the pandemic erodes their fortunes. What is more, the number of wealthy US households has also declined. According to the Bloomberg Billionaire Index, the world’s 500 richest people have lost $ 1.3 trillion this year — 21.6% in their collective net worth. The crush in the stock market has shortened the list of ultra-wealthy Americans whose fortune exceeds $100 billion. Notably, Amazon CEO and Blue Origin Founder Jeff Bezos with his fortune worth $117 billion was hit the least by the oscillation in the stocks and the COVID-19.
