The year 2025 witnessed a significant reshuffling in the ranks of the world's wealthiest individuals, driven largely by the volatile fortunes of technology and artificial intelligence companies. Despite the musical chairs, familiar titans continued to dominate, with most adding billions to their already colossal net worths.
Musk's Unshakeable Lead Fueled by SpaceX and Tesla
Elon Musk, the CEO of Tesla and SpaceX, held firmly to his position as the planet's richest person throughout the year. According to the Bloomberg Billionaires Index, his wealth stood at $627 billion as of December 29. However, Barron's estimates placed it closer to a staggering $750 billion, marking an increase of approximately $400 billion in just one year.
This phenomenal growth was powered by several key developments. A potential secondary offering for SpaceX, reported by The Wall Street Journal, valued the private space exploration company at around $800 billion. Musk owns about 40% of SpaceX. His wealth was further boosted by an 18% rise in Tesla's share price, the restoration of stock options worth about $138 billion by the Delaware Supreme Court, and the merger of his private AI venture, xAI, with the social media platform X.
Musk's grip on the top spot wasn't always certain in 2025. His foray into politics as the head of the now-defunct Department of Government Efficiency and a public falling out with former President Donald Trump had initially concerned Tesla investors.
The AI Shuffle: Page Soars, Zuckerberg Slips
The landscape below Musk saw dramatic changes, directly tied to the wins and losses in the artificial intelligence sector for giants like Oracle, Alphabet, Meta Platforms, and Nvidia.
Larry Page, co-founder of Google, made a spectacular leap. He ended the year as the world's second-richest person with a net worth of $270 billion, a gain of $101 billion. He surged from the 7th position at the end of 2024, propelled by Alphabet's soaring valuation on the back of its strong AI business. His fellow co-founder, Sergey Brin, also rode Alphabet's success to climb to 4th place with $251 billion.
This AI-driven surge pushed Amazon's Jeff Bezos down to third place, despite his wealth growing to $255 billion. Oracle's Chairman, Larry Ellison, experienced a roller-coaster year. After briefly overtaking Musk for the top spot in intraday trading on September 10 following a strong earnings report, he settled at 5th place by year-end with $248 billion. His company has faced scrutiny over a $300 million contract with OpenAI.
In contrast, Meta Platforms CEO Mark Zuckerberg saw his rank slip from 3rd to 6th. While Meta's stock initially surged due to AI investments, it later faltered amid reports of internal turmoil and concerns about the company lagging in its AI ambitions.
Notable Entries and Exits from the Top Tier
The changes weren't limited to the tech sector. Bernard Arnault, the chairman of LVMH and the only non-U.S. billionaire in the top 10, slipped from 5th to 7th place as his company's shares ended the year flat.
Nvidia's CEO Jensen Huang entered the elite top 10 club, moving from 11th to 9th position. His fortune is tied to his roughly 3.3% stake in the chipmaker, which remains at the heart of the AI boom.
Meanwhile, Microsoft co-founder Bill Gates fell out of the top 10 to 16th place after announcing plans to give away $200 billion of his wealth over the next two decades. Warren Buffett, set to retire as CEO of Berkshire Hathaway, also slipped to 10th place with an estimated net worth of $151 billion.
The calculation of these vast fortunes remains complex, relying on estimates of private holdings, stock values, and other assets. The discrepancy between Bloomberg's and Barron's figures for Musk's wealth underscores the challenge. Nonetheless, the 2025 list clearly illustrates how artificial intelligence has become the new frontier in the battle for global wealth supremacy.
