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Fortune

Emma Burleigh

America’s wealthiest billionaires got $698 billion richer this year—and Trump's tax policy could give them a new windfall

Donald Trump America Elon Musk United States Mark Zandi Michael Dell Oxfam Inequality Recession

President Trump and Elon Musk (Credit: ALLISON ROBBERT / Contributor / Getty Images)

While Americans are pinching their pennies amid SNAP cuts, soaring housing costs, and mass layoffs, the ultra-rich are seeing unprecedented wealth gains. In the coming years, we could even have our first trillionaire: Elon Musk.

Now, a new report from Oxfam has revealed that the 10 richest U.S. billionaires added $698 billion to their net worths in the past year.

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