Despite a global pandemic and one of the most tumultuous economic environments in modern history, one group of Americans has done surprisingly well in the past year.
U.S. billionaires have seen their wealth grow by roughly 20% since mid-March, according to a report by the Institute for Policy Studies and Americans for Tax Fairness.
“It’s kind of a cliché, but the rich are getting richer,” said Brock Moseley, founding partner at Sawtelle-based money manager Miracle Mile Advisors. “This has been a great period of time for them with tons of deregulation (and) low-interest rates.”
Read the full article: Musk Leads 2020 L.A. Billionaires Thanks to Massive Gain (Los Angeles Business Journal)
