Elon Musk begins 2025 as the world’s wealthiest individual, according to Forbes' latest billionaire rankings. With a net worth of 421.2 billion USD, Musk saw an incredible 91 billion USD increase since December 1, largely fueled by SpaceX’s new valuation of 350 billion USD. The company’s valuation leap has positioned SpaceX as the most valuable private company globally. Musk, who founded SpaceX in 2002 and serves as its CEO, also heads Tesla and holds stakes in social media platform X, AI company xAI, and tunnelling firm Boring Co.
Forbes' ranking shows a significant rise in wealth among the top 10 richest individuals, with their combined net worth reaching 1.9 trillion USD, up from 1.8 trillion USD in December. Amazon founder Jeff Bezos follows Musk with 233.5 billion USD, while Nvidia’s Jensen Huang enters the top 10 for the first time with 118 billion USD.
Among the notable shifts, Oracle's Larry Ellison saw a drop in his fortune, pushing him from second to third place. Forbes has tracked the world’s billionaires since 1987, with 2,781 billionaires listed in its 2024 edition.
Here are the 10 richest people on earth as reported by Forbes:
1. Elon Musk
Net worth: 421.2 billion USD
Source: Tesla, SpaceX, xAI, X
Age: 53
Citizenship: U.S.
Elon Musk remains the world’s richest person, with a net worth of 421.2 billion USD, according to Forbes. His fortune comes from his leadership roles in Tesla, SpaceX, and X (formerly Twitter), along with his ownership in xAI. A 91 billion USD increase in his wealth in December 2024 was driven by a significant rise in SpaceX’s valuation. Musk owns 13% of Tesla and has also become heavily involved in AI through his company xAI.
Musk has been politically active, donating to Donald Trump’s presidential campaign and being appointed co-head of the Department of Government Efficiency (DOGE), an advisory body that seeks to reduce government spending and improve efficiency. Originally from South Africa, Musk’s early career included co-founding PayPal before launching SpaceX in 2002 and joining Tesla in 2004. He briefly became the world’s richest person in 2021 and regained the title in 2024, following the success of his companies.
2. Jeff Bezos
Net worth: 233.5 billion USD
Source: Amazon
Age: 60
Citizenship: U.S.
Jeff Bezos founded Amazon in 1994, starting as an online bookstore before expanding into cloud computing, entertainment, and more. He led Amazon as CEO until 2021 but remains chairman. Bezos also owns Blue Origin, a private space company he founded and has invested billions in. Amazon's stock rose by 5% in December 2024, adding around 10 billion USD to his fortune.
Bezos was the world’s richest person from 2018 to 2021 but dropped to second in 2022 and third in 2024. In 2019, he divorced his wife, MacKenzie, who received 4% of Amazon’s shares. Bezos has since sold or donated a significant portion of his stake, owning just under 10% of Amazon. Through Bezos Expeditions, he has also invested in companies like Airbnb and Workday.
3. Larry Ellison
Net worth: 209.7 billion USD
Source: Oracle
Age: 80
Citizenship: U.S.
Larry Ellison cofounded Oracle in 1977 and led the company as CEO until 2014. He now serves as chairman and CTO. Oracle’s stock dropped over 9% in December 2024, wiping out around 17 billion USD from Ellison’s wealth and pushing him down from the second-richest spot to third.
In 2012, Ellison purchased 98% of the Hawaiian island of Lanai for 300 million USD. He also owns properties in California, Nevada, and Florida. Ellison previously invested in Tesla and served on its board from 2018 to 2022.
4. Mark Zuckerberg
Net worth: 202.5 billion USD
Source: Meta (Facebook)
Age: 40
Citizenship: U.S.
Mark Zuckerberg cofounded Facebook, now Meta Platforms, in 2004 while at Harvard University. Meta has become the world’s largest social network, owning Instagram and WhatsApp, which it acquired and expanded. Zuckerberg remains CEO and owns about 13% of the company.
His net worth rose by 3.8 billion USD in December 2024, driven by a 1.9% increase in Meta shares.
5. Bernard Arnault
Net worth: 168.8 billion USD
Source: LVMH/Luxury goods
Age: 75
Citizenship: France
Bernard Arnault is the CEO and chairman of luxury goods giant LVMH. Over the past month, his net worth rose by 8.5 billion USD, driven by a 7% increase in LVMH shares. Despite challenges in 2024, such as weak demand in China, Arnault's company remains the world’s largest luxury goods group, with brands like Louis Vuitton, Christian Dior, Moët & Chandon, and Tiffany & Co.
Arnault used USD 15 million of his father’s construction wealth to purchase Christian Dior, building a luxury empire. His five children hold prominent roles within LVMH, with his son Alexandre named deputy CEO of the wine and spirits division.
Arnault was the world’s richest person for much of 2023 and part of 2024.
6. Larry Page
Net worth: 156 billion USD
Source: Google
Age: 51
Citizenship: U.S.
Larry Page, cofounder of Google, rose one rank this month after Alphabet’s shares surged by 11%, increasing his net worth by 14 billion USD. In late November, the U.S. Department of Justice urged Google to sell its Chrome browser to reduce its market dominance, a move Google opposed, arguing it would harm consumers and U.S. tech leadership.
Page cofounded Google with Sergey Brin in 1998 and served as CEO until 2001, and again from 2011 to 2015. He is now a board member of Google’s parent, Alphabet, and retains a controlling stake. Page was also a founding investor in asteroid mining firm Planetary Resources, acquired by blockchain company ConsenSys in 2018.
7. Sergey Brin
Net worth: 149 billion USD
Source: Google
Age: 51
Citizenship: U.S.
Sergey Brin, like his Google cofounder Larry Page, saw his fortune rise by 14.7 billion USD in the past month due to an increase in Alphabet’s stock. This surge propelled him from No. 8 to No. 7 on the list of the world’s richest people.
Brin cofounded Google with Page in 1998 and, like Page, now serves as a board member of Google’s parent company, Alphabet, holding a controlling stake. Brin recently returned from semi-retirement to contribute to the development of Google’s Gemini AI chatbot, and was listed as a core contributor when the model was released in December.
8. Warren Buffett
Net worth: 141.7 billion USD
Source: Berkshire Hathaway
Age: 94
Citizenship: U.S.
Warren Buffett's fortune fell by 8.9 billion USD in December, due to a nearly 6% decline in Berkshire Hathaway’s A shares, causing him to drop from No. 6 to No. 8 on the list.
Known as the "Oracle of Omaha," Buffett is one of the most successful investors in history and runs the investment conglomerate Berkshire Hathaway. The company owns major businesses such as insurer Geico, battery maker Duracell, and fast-food chain Dairy Queen. Buffett, who bought his first stock at age 11, co-founded the Giving Pledge in 2010 with Bill Gates and Melinda French Gates, urging billionaires to donate at least half their fortune to charitable causes. He has pledged to donate 99% of his wealth and has already given over 60 billion USD, including a 5.3 billion USD donation in June 2024.
9. Steve Ballmer
Net worth: 124.3 billion USD
Source: Microsoft, Clippers, investments
Age: 68
Citizenship: U.S.
Steve Ballmer, a former classmate of Bill Gates at Harvard, joined Microsoft in 1980 as its 30th employee after leaving the MBA program at Stanford University. He served as CEO of Microsoft from 2000 to 2014.
After retiring from Microsoft, Ballmer purchased the Los Angeles Clippers for 2 billion USD, a record at the time. Today, Forbes values the team at 5.5 billion USD. The Clippers' new home, the Intuit Dome in Inglewood, opened in August 2024.
In December, Ballmer's fortune decreased by approximately 500 million USD, a modest dip for someone worth over 100 billion USD.
10. Jensen Huang
Net worth: 117.2 billion USD
Source: Nvidia
Age: 61
Citizenship: U.S.
Jensen Huang, the cofounder and CEO of Nvidia, has seen his fortune soar as the company’s chips gained popularity within the AI sector. Though he has made brief appearances in the top 10 richest individuals over the past year, this marks the first time he starts a month in this exclusive group. Known for his signature black leather jacket, Huang has become a prominent figure in the tech world.
Despite a slight dip in Nvidia shares in December, Huang secured his spot in the top 10 due to a decline in the fortune of the previous No. 10, Amancio Ortega of Spain. Ortega's wealth dropped by about 7 billion USD, bringing him just 400 million USD behind Huang at the beginning of 2025.
Who is the richest man in the world?
As of January 1, 2025, the richest person in the world is Tesla and SpaceX CEO Elon Musk, with a net worth of 421 billion USD. Musk reclaimed the top spot in late May 2024, surpassing Bernard Arnault of France.
Who is the richest woman in the world?
The richest woman in the world is Alice Walton, the daughter of Walmart founder Sam Walton. As of January 1, 2025, Walton is worth an estimated 99.9 billion USD and is the world’s 17th richest person. Her wealth stems from her ownership stake in Walmart, which she inherited from her late father.