Jeff Bezos

America's top-five richest men now have twice as much combined wealth as they did in March 2020 - and the rest of the country's billionaires aren't far behind them in doubling their fortunes.

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Before the pandemic, a majority of US adults told Pew Research that America's levels of wealth inequality are too high, and things have only gotten more extreme since then.

On average, people tend to hold a negative view of inequality as a phenomenon and billionaires as a group, according to a new paper by researchers from Cornell and Ohio State.

"When you think about 'the wealthy' or 'the 1%,' the mind goes to situational attributions much more readily," said Cornell psychology professor Thomas Gilovich, according to Ohio State News. "You think about the system being rigged, the privileges they have, and therefore you're much more willing to support, for example, an inheritance tax to deal with growing income inequality."

But Gilovich and his co-authors found that people are less bothered by concerns of fairness or privilege when it comes to individual billionaires.


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