Elon Musk becomes world's richest person after major wealth surge
- This year’s Forbes Billionaires List includes a record 3,028 billionaires, an increase from previous years.
- Elon Musk's net worth surged to $342 billion, making him the first person to exceed the $300 billion mark.
- The growing wealth concentration among billionaires highlights ongoing economic disparities and influences in governance.
In April 2025, Forbes released its 39th Annual Billionaires List, marking a record-breaking year with 3,028 billionaires worldwide. This is the first time the list has reached such a large number since its inception in 1987. The total wealth of these billionaires collectively soared to $16.1 trillion, showcasing not only a significant increase in the number of billionaires but also a substantial growth in their wealth despite ongoing financial uncertainties and geopolitical tensions. Elon Musk dethroned Bernard Arnault, the French luxury goods magnate, to claim the top position, with his net worth rising by a remarkable 75% to an estimated $342 billion. This surge in wealth is attributed to remarkable valuations of Musk's companies, particularly xAI and SpaceX, along with a significant increase in Tesla's stock over the past year, notwithstanding recent market sell-offs. Recognized as the first individual to surpass the $300 billion milestone, Musk's standing reflects not only his financial acumen but also his influence on various industries. Following Musk on the list was Mark Zuckerberg, holding the second position with an estimated net worth of $216 billion, while Jeff Bezos and Bernard Arnault & family ranked fourth and fifth, with net worths of $192 billion and $178 billion, respectively. This ranking indicates a shift in wealth concentration, with a mere 0.5% of the world's billionaires, amounting to 15% of the total billionaire wealth, illustrating the growing disparity between the richest and the rest. Moreover, the United States led the world with 902 billionaires, totaling a staggering combined wealth of $6.75 trillion. Such figures highlight not only the criteria for wealth accumulation but also the political and economic narratives surrounding the ultra-wealthy. Forbes Senior Editor Chase Peterson-Withorn commented on this year's list, emphasizing the increasingly powerful role that billionaires like Musk and Lutnick play in the U.S. government and society. This trend is likely to continue as the wealth gap widens globally, driving discussions on income inequality and the role of billionaires in shaping public policy.