As companies fold up over COVID-19, China's super-wealthy smile to the bank as they get N574 trillion richer during pandemic
- The coronavirus pandemic has made the super-wealthy in China richer as they added $1.5 trillion to their wealth
- As companies were forced out of business around the world due to the pandemic, other companies are smiling to the bank
- The richest man in China and founder of Alibaba, Jack Ma, is one of the biggest winners of the global crisis
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The super-wealthy in China have added $1.5 trillion (N574,830,000,000,000) to their wealth during the pandemic that started in Wuhan.
This was made possible by the surge in business for online shopping firms due to the lockdowns.
Daily Mail reports that Jack Ma, the richest man in China, saw his wealth rise by 45 per cent to $58.8 billion (N22,533,336,000,000) after his e-commerce business Alibaba emerged as one of the winners of the crisis.
Others who saw an increase in their wealth due to the pandemic include healthcare entrepreneurs.
The richest man in China, Jack Ma, saw his wealth increase by 45 per cent.
Photo credit: Getty Images
Source: Getty Images
The founder of Zhifei, a firm that produce vaccine, tripled his wealth to $19.9 billion (N7,626,078,000,000).
The chief executive officer of Tencent, Pony Ma, also had his wealth increase to $57.4 billion (N21,996,828,000,000) during the pandemic.
The coronavirus has killed several people globally and many are still in isolation centres around the world. As the world continues to battle the pandemic, many companies have been forced out of business while others are smiling to the bank courtesy of the same pandemic.
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Meanwhile, Legit.ng previously reported that billionaire businessman and philanthropist Bill Gates said the rich world would be able to put an end to the coronavirus by the end of 2021 while the world at large would be able to end it by 2022.
The Microsoft co-founder stated this in an interview with Wired magazine, which was published on Friday, August 7.
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