A study found on Tuesday that the share of household wealth owned by billionaires has risen by a record amount during the pandemic.Millionaires are also coming out of COVID-19 ahead.The World Inequality Report is produced by a network of social scientists.The report estimated that billionaires this year collectively own 3.5 percent of the world household wealth.This is up from a little more than 2 percent at the start of the pandemic in early 2020.Lucas Chancel was the lead writer.He said the COVID crisis has worsened the inequalities between the very rich and the rest of the population.He noted that rich economies used massive financial support to lessen the increased rise in poverty seen elsewhere.The report used different specialist research and public information.The opening part was written by U.S.-based economists Abhijit Banerjee and Esther Duflo.
