The Rich get Richer

Jeff Bezos now has a fortune of $138bn.

The boss of Amazon has seen his wealth swell by $24bn (£19bn) after soaring demand for online shopping sent the firm’s share price to a new high.

The Waltons, owners of Walmart and Asda saw their net worth rise 5% this year to $169bn, making them the world’s richest family.

“The wealth gap, it’s only going to get wider with what’s going on now,” said Matt Maley, chief market strategist at Miller Tabak + Co. “The really wealthy people haven’t had to worry. Yes, they’re less wealthy, but you haven’t had to worry about putting food on the table or keeping a roof over your head. The unfairness of it all is who is going to benefit from it most,” Maley said. “Money makes money.”

The volume of transactions in beaten-down industries, from travel to health care to gaming, suggests executives and directors are more bullish than they’ve been at most other points in the past decade, according to Sundial Capital Research.

Carnival Corp. board member Randall Weisenburger bought $10 million of stock in the beleaguered cruise-line operator last week.

UBS Group AG is seeing ultra-wealthy clients ramp up borrowing to place more wagers in what they see as a cheap market.

Mortgage brokers to the rich have said more clients are seeking loans backed by real estate to help them invest in businesses and snap up other assets.

Carnival Corp. board member Randall Weisenburger bought $10 million of stock in the beleaguered cruise-line operator last week.