NEW YORK–Forbes on Tuesday released its 39th annual World’s Billionaires list, the definitive ranking of the world’s richest people.
Wealth has surged this year in ways we’ve never seen. This year’s list features 3,028 billionaires, the most since the list’s inception in 1987, Forbed said in a statement.
“The world’s wealthiest people are collectively worth a record-breaking $16.1 trillion. A record 15 people worldwide now have 12-figure fortunes, up from 14 last year and zero in 2017,” the statement said.
Elon Musk dethrones French luxury goods titan Bernard Arnault for the top spot, as Musk’s net worth grew by 75% to an estimated $342 billion. His jump in wealth follows big new valuations of xAI and SpaceX, and a 12-month rise in Tesla stock, despite the recent selloff. Musk is the first person to reach the $300 billion mark.
President Donald Trump more than doubled his net worth to an estimated $5.1 billion, thanks to his shares of Trump Media & Technology Group and big cash inflows from his recent crypto ventures.
“It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise,” says Chase Peterson-Withorn, Forbes Senior Editor, Wealth. “And, from Elon Musk to Howard Lutnick and the other billionaires taking over the U.S. government, they’re growing more and more powerful.”
Mark Zuckerberg follows Musk, in the No. 2 spot with an estimated net worth of $216 billion, followed by Jeff Bezos at No. 3 ($215 billion), Larry Ellison at No. 4 ($192 billion) and Bernard Arnault & family ($178 billion) rounding out the top five.
Key Highlights as provided by Forbes:
- Newcomers: The 2025 ranking features 288 newcomers, including musician Bruce Springsteen, Chipotle founder Steve Ells, Alphabet/Google CEO Sundar Pichai, actor and former CA governor Arnold Schwarzenegger and Scale AI cofounder Alexandr Wang, the youngest self-made billionaire in the world, at age 28.
- Globally: The United States has more billionaires than any other country, now boasting a record 902 on the list, worth a combined $6.75 trillion. China follows, with 450 billionaires, while India comes in third, with 205.
- The $100 Billion Club: A record 15 people worldwide now have 12-figure fortunes, up from 14 last year and zero in 2017. This elite group is worth $2.4 trillion in all, meaning just 0.5% of the world’s 3,028 billionaires hold approximately 15% of all billionaire wealth.
- Drop-offs: 107 people dropped off the list this year, including Hermès heir Nicolas Puech and Hobby Lobby’s David Green, among others. An additional 32 billionaires died.
The richest Indian billionaires listed on the list are:
- Mukesh Ambani | Net worth: $ 92.5 Billion | Age: 67 | Country/Territory: India | Industry: Diversified
Mukesh Ambani chairs and runs $120 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom, retail, media and financial services.
- Gautam Adani | Net worth: $ 56.3 Billion | Age: 62 | Country/Territory: India | Industry: Diversified
Gautam Adani is chairman of the Ahmedabad-headquartered Adani Group, with interests in ports, airports, power generation and transmission, and green energy, among others.
- Savitri Jindal & family | Net worth: $ 35.5 Billion | Age: 75 | Country/Territory: India | Industry: Metals & Mining
Jindal Group, whose interests include steel, power, cement and infrastructure, is chaired by Savitri Jindal, widow of founder Om Prakash Jindal.
- Shiv Nadar | Net worth: $ 34.5 Billion | Age: 79 | Country/Territory: India | Industry: Technology
Indian IT pioneer Shiv Nadar cofounded HCL in a garage in 1976 to make calculators and microprocessors with five friends.
- Dilip Shanghvi | Net worth: $ 24.9 Billion | Age: 69 | Country/Territory: India | Industry: Healthcare
The son of a pharmaceuticals distributor, Dilip Shanghvi borrowed $200 from his father to start Sun Pharmaceutical Industries in 1983 to make psychiatric drugs.
- Kumar Birla | Net worth: $ 20.9 Billion | Age: 57 | Country/Territory: India | Industry: Diversified
Commodities king Kumar Birla is the fourth generation head of the storied, $66 billion (revenue) Aditya Birla Group. More than half is generated outside India, where it has a presence in 40 countries.
- Lakshmi Mittal | Net worth: $ 19.2 Billion | Age: 74 | Country/Territory: India | Industry: Metals & Mining
Lakshmi Mittal serves as chairman of $68 billion (revenue) ArcelorMittal, the world’s largest steel and mining company by output.
- Radhakishan Damani | Net worth: $ 15.4 Billion | Age: 70 | Country/Territory: India | Industry: Fashion & Retail
Veteran Mumbai investor Radhakishan Damani became India’s retail king after the 2017 IPO of his supermarket chain Avenue Supermarts.
- Vinod Adani | Net worth: $ 14.9 Billion | Age: 76 | Country/Territory: Cyprus | Industry: Diversified
Vinod Adani is the older brother of Gautam Adani, who was at one point, the world’s third-richest person.
- Kushal Pal Singh | Net worth: $ 14.5 Billion | Age: 93 | Country/Territory: India | Industry: Real Estate
Property baron Kushal Pal Singh left an army posting in 1961 to join DLF, a company started by his father-in-law in 1946.
- Uday Kotak | Net worth: $ 14 Billion | Age: 66 | Country/Territory: India | Industry: Finance & Investments
Spurning his family’s trading business, Uday Kotak started a finance firm in 1985 then went on to convert it into a bank in 2003.
- Ravi Jaipuria | Net worth: $ 13.6 Billion | Age: 70 | Country/Territory: India | Industry: Food & Beverage
India’s cola king, Ravi Jaipuria, presides over RJ Corp. which is into everything from beverages and fast food to healthcare and education.
- Sunil Mittal | Net worth: $ 12.1 Billion | Age: 67 | Country/Territory: India | Industry: Telecom
Telecom tycoon Sunil Mittal’s Bharti Airtel is among India’s largest mobile phone operators. It has more than 500 million customers across South Asia and Africa.
- Azim Premji | Net worth: $ 12 Billion | Age: 79 | Country/Territory: India | Industry: Technology
Indian tech magnate Azim Premji’s $11.3 billion (revenue) Wipro is among India’s largest software services providers.
