WEALTH EFFECTS

It’s no surprise that more than half of the 2,095 people on ForbesÕ new list of the World’s Billionaires (May 2020) are less wealthy than they were last year. In fact, the billionaire ranks thinned by 226 people in the first two weeks of March alone as the coronavirus outbreak ravaged global markets. Amazon’s Jeff Bezos took the crown as the world’s richest person ($113 billion) for the third year running. He was followed by Bill Gates and LVMH’s Bernard Arnault. In fourth place was Warren Buffett—but to plenty of readers, the folksy financial oracle remains the star of the show. “Buffett is low-key, most impressive,” @Alexkratochwill noted via Instagram. “In the game like a seasoned vet, nothing fancy, but still up top.” Others were rankled by our material focus. “Read the room,” one admonished, scolding us for focusing on immense riches amid a pandemic. “Y’all are celebrating wealth hoarding during a time of global financial crisis and insecurity,” tweeted @MxKantEven. “All I feel is rage.”