Since March 2020, the coronavirus pandemic has slowed the global economy. Several sectors have been badly hit. Some companies are laying off their employees. But, at the same time, tech billionaires are getting richer.
Following top entrepreneurs and businessmen have managed to substantially increase their wealth, amid the COVID-19 health crisis. They have increased their net worth by at least $20 billion in 2020. Having stated this, let us look at the top five tech billionaires of 2020.
Top Five Tech Billionaires of 2020
Amazon CEO Jeff Bezos is among the few billionaires who have seen their net valuation increase this year. According to the Bloomberg Billionaires Index, Bezos’ net worth increased by an astonishing $80 billion in 2020. This is attributed to the sharp rise in e-commerce sales. His net worth now stands at $195 billion.
The CEO of Tesla and SpaceX, Elon Musk has also observed a significant increase in his wealth after a rally in US technology stocks. Musk has an outspoken nature in social media and has had a good year on the business front. According to the Bloomberg Billionaires Index, his net valuation has increased by $62.8 billion in 2020.
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COVID-19 has forced the majority to stay home and remote working has taken precedence. With this new way of working, videoconferencing has increased rapidly. Eric Yuan, the CEO of Zoom, the most widely used videoconferencing app has profited from this remote working. His current net worth stands at $22 billion which has increased drastically from $3.6 billion at the start of the year 2020.
Facebook CEO, Mark Zuckerberg has benefitted from the stay-at-home scenario in the global pandemic. Social media has become the biggest preoccupation for the homebound. Facebook has been growing at its fastest pace making Zuckerberg richer with his current net worth at $87.6 billion. His net worth at the start of the year was $78.4 billion.
Reliance Industries Limited Chairman (RIL) Mukesh Ambani also saw his fortunes soar substantially this year. Ambani has entered into numerous capital raising deals with the top investment and technology firms. He raised over $20 billion after selling a stake in RIL’s technology venture. His net worth has increased by $21.4 billion this year, making him the world’s sixth richest man.