Musk tops Forbes billionaires list again as wealth surges $500b on Tesla, SpaceX valuations
Musk is the first person ever to surpass the $800 billion mark and is on course to become the world’s first trillionaire. PHOTO: REUTERS
Elon Musk is the wealthiest individual ever recorded, worth an estimated $839 billion, Forbes said on Tuesday, as a record 3,428 billionaires worldwide saw their combined fortunes surge to an all-time high of $20.1 trillion.
Musk topped the Forbes World’s Billionaires list for the second consecutive year after his fortune swelled by roughly $500b over the past twelve months, driven by rising valuations at Tesla and SpaceX, which is targeting a public offering in 2026.
He is the first person ever to surpass the $800b mark and is on course to become the world’s first trillionaire.
The list shows that booming artificial intelligence investments, volatile financial markets and supportive fiscal policies helped drive a surge in wealth creation, pushing about 400 new individuals onto the list compared to last year.
As the number of billionaires increased, their combined fortune also climbed sharply, rising $4tr year-on-year to a record $20.1tr.
The report found that 20 people now hold fortunes of at least $100b, underscoring the growing concentration of wealth among the world’s richest individuals.
Musk retained the top spot for the second consecutive year.
Larry Page, co-founder of Google, ranked second with an estimated $257b, followed by fellow Google co-founder Sergey Brin with $237b.
Amazon founder Jeff Bezos is fourth with $224b, while Meta CEO Mark Zuckerberg ranked fifth with $222b.
Trump’s wealth rises
The wealth of United States President Donald Trump increased 27%, largely driven by gains linked to cryptocurrency ventures and the dismissal of penalties in a fraud case previously brought against him.
Trump’s estimated net worth rose to $6.5b, placing him 645th on the list.
The ranking also included several high-profile figures from entertainment and sports, including musician and entrepreneur Dr Dre, singer Beyoncé Knowles-Carter and tennis legend Roger Federer.
US leads in the number of billionaires
The US remained home to the largest number of billionaires, with 989, including 15 of the top 20 on the list. Their combined wealth totalled $8.4tr.
China, including Hong Kong, followed with 610 billionaires, while India is third with 229.
