Elon Musk has returned to the top of Forbes' World's Billionaires list, reclaiming his position as the world's richest person with an estimated net worth of $342 billion. The Tesla and SpaceX CEO's fortune surged by 75% over the past year, driven largely by soaring valuations of his aerospace and artificial intelligence ventures, making him the wealthiest individual Forbes has ever recorded.
Musk surpassed French luxury magnate Bernard Arnault, who held the top spot in last year's ranking. Arnault, the chairman of LVMH Moët Hennessy Louis Vuitton, dropped to fifth place as a downturn in luxury demand weighed on his companies' stock prices, bringing his estimated net worth to $178 billion.
The 2025 edition of Forbes' annual ranking marks a record-breaking year for global wealth. The list includes 3,028 billionaires-its highest tally since the ranking began in 1987-with a combined wealth of $16.1 trillion. A record 15 individuals now hold fortunes exceeding $100 billion.
Musk's dramatic wealth increase came amid a 12-month rally in Tesla shares, as well as fresh valuations for SpaceX and xAI, his artificial intelligence startup. For the first time, SpaceX overtook Tesla as the biggest contributor to his net worth. Musk owns an estimated 42% of SpaceX, which plays a critical role in NASA's space operations and continues to dominate the private aerospace sector.
"Forbes" wrote in its listing: "This is Musk's 14th consecutive appearance on the annual World's Billionaires ranking. The 53-year-old businessman, who has vaulted to political prominence as one of President Donald Trump's closest advisors, boasts a net worth of $342 billion, making him not just the richest person in the world, but the richest person Forbes has ever tracked."
Musk's influence has expanded beyond business. Following President Trump's reelection, Musk was appointed to lead the Department of Government Efficiency, a new agency aimed at streamlining federal operations. His close alliance with the White House has further solidified his power in both economic and political spheres.
Mark Zuckerberg ranked second on this year's list, with an estimated net worth of $216 billion, followed closely by Amazon founder Jeff Bezos at $215 billion and Oracle's Larry Ellison at $192 billion.
Among the list's notable newcomers are musician Bruce Springsteen, Alphabet CEO Sundar Pichai, and Scale AI cofounder Alexandr Wang, who, at 28, is the world's youngest self-made billionaire.
The U.S. remains home to more billionaires than any other country, with 902 individuals worth a combined $6.75 trillion. China follows with 450 billionaires, while India claims 205.
President Trump, whose personal wealth has climbed to an estimated $5.1 billion thanks to gains in Trump Media & Technology Group and cryptocurrency investments, is one of several politically connected billionaires noted in this year's report.
