Boston Business Journal

Massachusetts Billionaires Got 46% Wealthier During the Pandemic

Massachusetts billionaires’ wealth jumped by 46%, or almost $25 billion combined, over the past 26 months, with many of the state’s richest residents benefitting from their ties to finance, technology and health care companies during the pandemic, according to a new study. 

Analysis from the Institute for Policy Studies, a progressive Washington, D.C.-based think tank, suggested that even with market volatility and declines over the last quarter, the Bay State’s 21 billionaires’ total wealth surged to $78.4 billion as of May 27, an increase of $24.6 billion over more than two years. 

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