2025 Global Billionaires: Elon Musk Tops $750 Billion in Wealth, While Asia’s Richest Remains an Indian Tycoon

The world’s richest are getting even richer.

According to Forbes’ Real-Time Billionaires list, as of December 24, 2025, Elon Musk’s net worth has climbed to roughly $752 billion (about RMB 5.28 trillion), making him the first person in history to surpass $700 billion in personal wealth.

Earlier this year, when Forbes published its global rich list, Musk’s fortune stood at around $342 billion. In less than a year, his wealth has more than doubled—now exceeding the combined net worth of those ranked No. 2 through No. 4 (Google co-founder Larry Page, Oracle founder Larry Ellison, and Amazon founder Jeff Bezos).

Musk’s year: turbulence, then a historic leap

Musk’s 2025 didn’t unfold without setbacks.

At the start of the year, he took on a high-profile role as head of the U.S. “Department of Government Efficiency,” pushing sweeping reforms that sparked controversy and disruption across federal agencies—before ultimately exiting the position. During that period, Tesla also faced public protests, and its share price and market value saw sharp declines.

Still, the turbulence in Washington didn’t prevent strong momentum across Musk’s core empire: Tesla, SpaceX, and AI venture xAI continued to deliver solid performance. Then, following a December 19 U.S. court ruling that allowed Musk to receive an extremely large compensation package at Tesla, his net worth surged past the $700 billion milestone—setting a new historical record.

Who’s up—and who’s down

After Musk, Larry Page ranks second, with personal wealth of $258.2 billion. Riding Google’s strong year, Page has overtaken both Meta CEO Mark Zuckerberg and Bezos to claim the No. 2 spot on the Forbes global list.

Google’s other co-founder, Sergey Brin, holds $238.2 billion, placing him No. 5.

Google’s ability to produce two top-five billionaires reflects Alphabet’s standout performance in 2025. In the third quarter, the company exceeded expectations across revenue, profit, and full-year capital spending guidance—posting revenue above $100 billion for the first time and delivering double-digit growth across multiple core businesses. That strength has translated directly into major wealth gains for its founders.

Another major climber this year is Larry Ellison. Oracle’s explosive performance in 2025 fueled a dramatic comeback for its founder. On September 19, Ellison’s net worth reportedly jumped by $88.5 billion in a single day, briefly reaching $383 billion. While it has since retreated, he still ranks No. 3 with $246.8 billion.

By contrast, Musk’s longtime rival Jeff Bezos has seen a more noticeable slide. Once the world’s richest person, Bezos has gradually slipped since stepping down as Amazon CEO. He now ranks No. 4 with $243.6 billion.

Mark Zuckerberg has also dropped. Earlier in 2025, he ranked No. 2 on the Forbes list, but he is now No. 6, with personal wealth of $227.9 billion.

Tech still dominates—luxury feels the slowdown

Unsurprisingly, the very top of the list remains heavily concentrated in tech.

One clear exception is Bernard Arnault, head of luxury giant LVMH, who continues to feel pressure from a global luxury slowdown. Once the world’s richest, Arnault’s wealth has declined by $9.1 billion so far this year to $191.3 billion, placing him No. 7.

Meanwhile, NVIDIA CEO Jensen Huang has benefited from the company’s soaring market value. His wealth has risen to $164.2 billion, up $65.5 billion since the start of the year, putting him at No. 9.

Legendary investor Warren Buffett ranks No. 10, with $148.0 billion.

Former long-time richest man Bill Gates continues to slide, now at No. 18 with $103.7 billion. Forbes notes that much of the decline is linked to Gates’ charitable giving. This year alone, his net worth has reportedly fallen by $51.0 billion due to donations, and Gates has said that over the next 20 years he plans to give away nearly all of his wealth to the Gates Foundation, which he co-founded with his former wife Melinda.

Compared with Gates, many U.S. billionaires are wealthier than ever—yet their giving has not kept pace. In September, a Forbes review found that while 400 American billionaires have donated at least $319 billion in total, three-quarters have given less than 5% of their wealth, and 40% have donated less than 1%. Only 11 people (about 2.75%) have donated at least 20% of their fortunes.

Asia’s No. 1: still India’s Ambani

On the latest Forbes list, Asia’s richest person remains Mukesh Ambani, chairman of India’s Reliance Industries. His wealth increased by $20.2 billion this year to $112.4 billion, ranking him No. 16 globally—ahead of Bill Gates.

Reliance Industries is India’s largest private enterprise and the first Indian private company to enter the Fortune Global 500. Its core businesses span oil refining, power, and other energy sectors, making it the country’s biggest energy company.

Driven by strength in petrochemicals, telecom, and related growth, Reliance’s share performance in 2025 has significantly outpaced India’s broader stock index—marking its strongest lead in five years.

Asia’s second-richest is Zhong Shanshan, chairman of Nongfu Spring, with $70.3 billion, up $7.4 billion from earlier this year. He ranks No. 25 globally.

Close behind is Zhang Yiming, founder of ByteDance, with $69.3 billion, up $3.8 billion, ranking No. 26 globally and No. 3 in Asia.

Former Asia No. 1 Gautam Adani now holds $66.4 billion, ranking No. 4 in Asia and No. 27 globally.

At No. 5 in Asia is Pony Ma (Ma Huateng), chairman and CEO of Tencent, with $62.1 billion, ranking No. 29 globally.

CATL chairman Zeng Yuqun follows with $56.7 billion, ranking No. 6 in Asia and No. 30 globally.