The coronavirus pandemic has proved a bonanza for billionaires and further widened the enormous racial wealth gap in the US, according to a new report released Friday. In the 12 weeks between 18 March and 11 June, the combined wealth of all US billionaires increased by more than $637bn to a total of $3.581tn, more than the entire wealth of the US’s 59 million Latinx population combined and equal to three-quarters of all Black wealth, according to an analysis by the Institute for Policy Studies (IPS).