The Coronavirus has really affected all of us worldwide and if I will not be telling lies, for a lot of people, it has been finding this period very difficult coupled with the lockdown in several countries starting from China. Although, a lot of people really experienced financial setback with the government trying to assist with stimulus checks, as well as help businesses with bailouts, a few set of people will not be needing the government bailout as they got themselves covered during this pandemic and the great lockdown. In this post, I will look into the lives of a few billionaire entrepreneurs who will not be needing the government bailout money because they were doing better than prior the pandemic. In case you did not know, a report in May 2020 claims that American billionaires were $434 billion richer as a cause of this pandemic, then you might ask, why do they need bailout since they are doing well. Let me make it clear that no airline billionaire can boast of not needing the government bailout and at the same time I can’t say for any real estate investor who invests in real estate solely, hotel CEOs and a few fashion executives did not make profit during this pandemic.
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Retail Giants
With panic buying and online services, a lot of big retail giants became the focus of customers and a lot of investors in this business increased their wealth. The likes of the Walton family of Walmart made billions as their stores were opened to delivery services to get goods.
Tech Giants got richer
Every tech giant in Silicon Valley made money during this period, companies like Zoom by Eric Yuan, Facebook, Microsoft Former CEO Steve Ballmer, and other video conferencing and other tech increased their wealth as people had nothing to do and wanted to communicate with their friends and families.
Medical Devices Companies
The medical industry did make a lot of money from this pandemic, as well as other companies that switched into selling medical devices and products. People like Elon Musk of Tesla who converted Tesla’s Space to produce ventilator which he sold and also gave out a few.
Stock Traders
A lot of people did play with the stock market during this period and just like a lot of people lost money in the stock market, so did a lot of people make money on the stock market. People like Richard Burr made money from investing in stocks this period.
Delivery Companies
As we all know, everyone wanted to get things at their doorstep and the one set of people to call was the delivery service company. Companies like Instacart, Amazon and other delivery service companies benefited from the pandemic.