Elon Musk starts 2025 as the world’s richest person, becoming the first billionaire with a net worth exceeding $400 billion, according to Forbes.
The CEO of Tesla and SpaceX leads a group of global tycoons whose combined net worth has reached $1.9 trillion as of January 1, 2025, up from $1.8 trillion the previous month. This group includes several well-known figures from diverse industries, further cementing their influence in global wealth rankings.
Notable in this list is Nvidia CEO Jensen Huang, who joins the top 10 for the first time, highlighting the semiconductor industry’s rapid growth and the increasing demand for computing power, particularly in artificial intelligence and gaming sectors.
Here’s the Forbes ranking of the world’s top 10 richest individuals as of January 1, 2025:
1. Elon Musk
Net Worth: $421.2 billionSource: Tesla, SpaceX, X, xAI
Age: 53
Citizenship: U.S.
Musk’s wealth surged by $91 billion in December due to SpaceX’s new $350 billion valuation. He also gained attention after being appointed co-head of the U.S. Department of Government Efficiency (DOGE) by President Donald Trump. This role reflects his increasing political influence, alongside his business ventures that dominate the technological landscape.
2. Jeff BezosNet Worth: $233.5 billion
Source: Amazon
Age: 60
Citizenship: U.S.
Bezos reclaimed second place as Amazon shares rose 5% in December, adding $10 billion to his fortune. Amazon’s success continues to be driven by its e-commerce dominance, cloud computing arm AWS, and ongoing innovations in AI and logistics.
3. Larry Ellison[/p]Net Worth: $209.7 billion
Source: Oracle
Age: 80
Citizenship: U.S.
Ellison’s wealth dropped $17 billion after Oracle’s stock declined but remains in the top three, reflecting his enduring influence in the tech industry. Oracle’s position as a leader in enterprise software and cloud services continues to secure Ellison’s place among the richest.
4. Mark Zuckerberg[/p]Net Worth: $202.5 billion
Source: Meta (Facebook)
Age: 40
Citizenship: U.S.
Meta’s 1.9% stock rise slightly boosted Zuckerberg’s fortune, as the company continues to transition its focus towards the metaverse and virtual reality, while also expanding its advertising business. His continued investments in emerging technologies are key to his wealth growth.
5. Bernard Arnault[/p]Net Worth: $168.8 billion
Source: LVMH
Age: 75
Citizenship: France[blockquote]Arnault gained $8.5 billion due to LVMH’s stock growth, driven by strong demand for luxury goods, particularly in Asia. His wealth highlights the growing prominence of luxury brands and the global appetite for high-end products, from fashion to fine wine.[/blockquote][/p]6. Larry Page[/p]
Net Worth: $157.9 billion
Source: Google (Alphabet)
Age: 51
Citizenship: U.S.
Page’s wealth remains tied to Google’s ongoing dominance in search and advertising, as well as its expansion into AI and cloud computing. His investments in other sectors, including technology startups, continue to bolster his net worth.
7. Sergey Brin[/p]Net Worth: $153.4 billion
Source: Google (Alphabet)
Age: 50
Citizenship: U.S.
Brin continues to profit from Alphabet’s success, with the company’s innovations in AI and its broad portfolio of tech ventures ensuring sustained wealth growth.
8. Warren Buffett[/p]Net Worth: $139.6 billion
Source: Berkshire Hathaway
Age: 94
Citizenship: U.S.
Buffett’s fortune dropped $8.9 billion due to a 6% decline in Berkshire Hathaway’s stock, but his long-standing value investing principles continue to shape his financial legacy. Despite the dip, Buffett remains a leading figure in finance and investment.
9. Steve Ballmer[/p]Net Worth: $123.5 billion
Source: Microsoft
Age: 68
Citizenship: U.S.
Ballmer’s fortune dipped by $500 million but still exceeds $100 billion, driven by his ownership of the Los Angeles Clippers and his role in Microsoft’s success, particularly in the cloud computing space.
10. Jensen Huang[/p]Net Worth: $118 billion
Source: Nvidia
Age: 61
Citizenship: U.S.
Huang enters the top 10 following Nvidia’s 171% stock rise in 2024, underscoring the company’s dominant position in graphics processing units (GPUs) and the growing importance of AI in various industries. His entry into the top 10 is a testament to the semiconductor industry’s explosive growth.
Forbes highlights that nine of the top ten are Americans, all of whom are men. Musk’s wealth, tied to Tesla, SpaceX, and other ventures, underscores the volatility of billionaire rankings, driven by stock market fluctuations. The rankings also reflect the diverse industries contributing to global wealth, from technology to luxury goods, and the increasing role of AI in shaping economic outcomes.
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