Billionaires raise net worth during COVID-19

Analysts have forecast that Amazon, owned by the world’s richest man, Jeff Bezos, is set to report first-quarter revenues of $73 billion.

Quarter of Amazon’s stake is with Jeff Bezos ex-wife MacKenzie Bezos. She is also enjoying the increase in orders and sales with a comfortable $9.7 billion rise in her net worth according to media reports.

In Asia, Mukesh Ambani is the richest person after a deal with Facebook's Mark Zuckerberg sent his conglomerate’s stock surging. With its half-billion internet users, India is a key market for Facebook Inc. The US social-networking giant will invest $5.7 billion and will buy about 10 per cent of Ambani's Jio platforms which brings together digital apps and a wireless platform under one umbrella. Ambani’s fortune is now risen to $49 billion, after Reliance Industries Ltd. gained 10 per cent. Reliance chief now finds himself with $3b more than Alibaba’s Jack Ma.

Shares of Facebook Inc. gained following Reliance Industry's announcement that the social media giant will invest $5.7 billion in its Jio Platforms. Shares of Facebook have risen by 25 per cent over the past month, pushing Zuckerberg's fortune up by $13.4 billion.

Elon Musk, the billionaire entrepreneur — who runs SpaceX and the electric-car company Tesla has also increased his net worth by $9.6 billion despite the economic downturn, according to various media repots. He has since responded to calls for help and sent critical medical equipment to places where there are shortages due to COVID-19.

Larry Page net worth has increased by $8.7 billion as per media reports due to increased searches on google,with the number of coronavirus cases skyrocketing and the world is operating from confines of their homes.

The increased demand for video conferencing and work from home guidelines across the world has also seen a huge demand for Microsoft's Skype and Team, which has worked to the benefit of former CEO Steve Ballmer of Microsoft. According to media reports this has increased his wealth by $10.5.billion.

Warren Buffett's multinational holding company and conglomerate firm Berkshire Hathaway has the most expensive stock on the market. According to recent reports Warrant Buffets net worth is at $73.3 billion, up by up $10.1 billion.

Luxury goods tycoon Bernard Arnault’s net worth jumped by $10.2 billion as shares of LVMH , which owns brands like Louis Vuitton and Dom Perignon, increased according to media reports. Louis Vuitton is consistently ranked among the world's most valuable brands.