Elon Musk has started 2025 as the world’s richest individual, securing his place as the first billionaire worth over $400 billion, according to Forbes’ latest report on Wednesday.
The Tesla CEO and SpaceX founder’s fortune has surged to an impressive $421.2 billion, primarily driven by a $91 billion increase in his wealth during December, fueled by a new valuation of SpaceX at $350 billion.
Musk’s wealth was further boosted by his recent appointment as co-head of the U.S. Department of Government Efficiency (DOGE) by President Donald Trump.
Musk’s remarkable rise tops a list of the world’s wealthiest individuals, whose combined net worth totals $1.9 trillion as of January 1, 2025.
This marks a significant increase from $1.8 trillion just a month ago. The top 10 billionaires, primarily from tech, retail, and luxury goods sectors, continue to shape global markets and industries.
The list also saw the inclusion of Nvidia CEO Jensen Huang, whose meteoric rise in the semiconductor industry helped him break into the top 10 for the first time.
Below are the top 10 richest individuals as of January 1, 2025:
- Elon Musk
Net Worth: $421.2 billion
Source: Tesla, SpaceX, X, xAI
Age: 53
Citizenship: U.S. - Jeff Bezos
Net Worth: $233.5 billion
Source: Amazon
Age: 60
Citizenship: U.S. - Larry Ellison
Net Worth: $209.7 billion
Source: Oracle
Age: 80
Citizenship: U.S. - Mark Zuckerberg
Net Worth: $202.5 billion
Source: Meta (Facebook)
Age: 40
Citizenship: U.S. - Bernard Arnault
Net Worth: $168.8 billion
Source: LVMH
Age: 75
Citizenship: France - Larry Page
Net Worth: $157.9 billion
Source: Google (Alphabet)
Age: 51
Citizenship: U.S. - Sergey Brin
Net Worth: $153.4 billion
Source: Google (Alphabet)
Age: 50
Citizenship: U.S. - Warren Buffett
Net Worth: $139.6 billion
Source: Berkshire Hathaway
Age: 94
Citizenship: U.S. - Steve Ballmer
Net Worth: $123.5 billion
Source: Microsoft
Age: 68
Citizenship: U.S. - Jensen Huang
Net Worth: $118 billion
Source: Nvidia
Age: 61
Citizenship: U.S.
Forbes reports that nine of the top 10 billionaires are American men, highlighting the continued dominance of the U.S. in global wealth rankings.
