While the Covid-19 pandemic disrupted the finances of many Americans, most of Connecticut”™s billionaires appear to have grown richer during the first few months of the crisis.
According to a new study from Americans for Tax Fairness that measured compared data from Forbes”™ March 18 edition of the World’s Billionaires List and Forbes”™ June 17 report on real-time billionaires”™ estimates, eight of the state”™s 14 super-rich saw their wealth expand in the midst of the virus-induced miasma. Topping the chart was Bradley Jacobs, CEO of Greenwich-based XPO Logistics, whose wealth swelled by 42% from $1.5 billion in March to $2.1 billion in June.
Among the Fairfield County elite enjoying a bump-up in their bank accounts were Danbury resident Peter Buck, co-founder of the Subway restaurant chain, who saw his wealth grow from $1.4 billion to $1.68 billion, and Greenwich resident Mario Gabelli, chief executive at GAMCO Investors, who saw his fortune rise from $1.5 billion to $1.7 billion. Even Vince McMahon came through the pandemic wealthier ”“ rising from $1.8 billion to $1.97 billion ”“ despite the financial problems plaguing his WWE empire and the collapse of his resurrected XFL endeavor.
None of Connecticut”™s billionaires lost funds during the pandemic, but some ”“ including the state”™s wealthiest resident, hedge fund executive Ray Dalio ”“ saw no extra dollars added to their very good fortunes between March and June.
