Meet the 11 US billionaires whose fortunes have grown the most during the pandemic

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Meet the 11 US billionaires whose fortunes have grown the most during the pandemic

Many billionaires were hit hard when the coronavirus tanked markets in late February and the first half of March. However, their fortunes rebounded with the stock market in recent weeks, despite a historic surge in unemployment.

The combined wealth of a selection of US billionaires surged by $565 billion, an increase of almost 20% since the start of the pandemic, according to a report by the Institute for Policy Studies.

Chuck Collins, who co-authored the Billionaire Bonanza 2020 report, said: "In a turbulent week in the life of the nation, these statistics remind us that we are more economically and racially divided than at any time in decades."

Collins added: "Our moral, economic and physical health as a society depends on building a post-pandemic economy that works for everyone, not just the billionaire class. Surging billionaire wealth juxtaposed with the suffering and plight of millions undermines the social solidarity required for us to recover together in the years ahead."

Here are the increases in 11 US billionaires' wealth between March 18 and June 4, based on figures from the Institute for Policy Studies and net-worth estimates from Forbes.

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Jeff Bezos, CEO of Amazon

Jeff Bezos, CEO of Amazon
Amazon CEO Jeff Bezos. AP Photo/Lefteris Pitarakis

Increase: $36.2 billion

Total wealth: $149 billion

Mark Zuckerberg, CEO of Facebook

Mark Zuckerberg, CEO of Facebook
Charles Platiau/Reuters

Increase: $30.1 billion

Total wealth: $84.8 billion

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Elon Musk, CEO of Tesla and SpaceX

Elon Musk, CEO of Tesla and SpaceX
Joe Rogan Experience

Increase: $14.1 billion

Total wealth: $38.7 billion

Sergey Brin, co-founder of Google

Sergey Brin, co-founder of Google
AP Photo/Paul Sakuma

Increase: $13.9 billion

Total wealth: $63.0 billion

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Larry Page, co-founder of Google

Larry Page, co-founder of Google
Alphabet CEO Larry Page. Reuters

Increase: $13.7 billion

Total wealth: $64.6 billion

Steve Ballmer, owner of the LA Clippers and former CEO of Microsoft

Steve Ballmer, owner of the LA Clippers and former CEO of Microsoft
Mark Blinch/Reuters

Increase: $13.3 billion

Total wealth: $66.0 billion

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MacKenzie Bezos, author and ex-wife of Amazon founder Jeff Bezos

MacKenzie Bezos, author and ex-wife of Amazon founder Jeff Bezos
REUTERS/Lucas Jackson

Increase: $12.6 billion

Total wealth: $48.6 billion

Michael Bloomberg, majority owner and co-founder of Bloomberg

Michael Bloomberg, majority owner and co-founder of Bloomberg
Michael Bloomberg AP

Increase: $12.1 billion

Total wealth: $60.1 billion

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Bill Gates, co-founder of Microsoft

Bill Gates, co-founder of Microsoft
Microsoft founder Bill Gates. REUTERS/Jason Lee

Increase: $11.8 billion

Total Wealth: $110 billion

Phil Knight, co-founder and chairman of Nike

Phil Knight, co-founder and chairman of Nike
Frederick M. Brown/Getty Images

Increase: $11.6 billion

Total wealth: $41.1 billion

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Larry Ellison, co-founder, executive chairman and CTO of Oracle

Larry Ellison, co-founder, executive chairman and CTO of Oracle
Oracle cofounder Larry Ellison. Justin Sullivan/Getty Images

Increase: $8.5 billion

Total wealth: $67.5 billion