Markets Soar, Fortunes Follow: World’s Richest Gain Sharply in 2025

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The world’s ultra-rich saw their fortunes surge in 2025 as global equity markets climbed steadily. A powerful wave of investment into artificial-intelligence companies, supported by firm economic indicators, expectations of lower interest rates and steady foreign capital inflows, helped drive stocks higher across major markets.

The study tracks only those whose wealth exceeds $100 billion. Globally, 18 people now hold fortunes above that level, and all but one gained during the year. Bill Gates was the exception, with his net worth declining about 26 percent to $118 billion, tied to his ongoing pledge to give much of his wealth to the Bill & Melinda Gates Foundation.

Together, these 18 billionaires added more than $745 billion over the year. Fourteen are based in the United States, while France, Spain, Mexico and India account for one each.

Among the biggest gainers were Alphabet co-founders Sergey Brin and Larry Page. Their fortunes rose more than 59 percent and 57 percent, reaching $252 billion and $280 billion, lifted by a rally in Google shares that advanced over 66 percent as the company expanded its Gemini AI lineup. Alphabet’s market value crossed $3 trillion during 2025.

Elon Musk registered the third-largest increase, with his net worth jumping nearly 50 percent, or $213 billion, to $645 billion. He became the first individual to cross $600 billion, adding the equivalent of about $581 million a day as valuations climbed at Tesla, SpaceX and xAI. SpaceX has outlined a 2026 IPO target with expectations of a valuation near $1.5 trillion.

Carlos Slim, who controls America Movil, and Nvidia chief executive Jensen Huang ranked fourth and fifth among the top gainers. Slim’s wealth rose 41 percent to $112 billion, supported by more than 25 percent growth in America Movil shares. Huang’s net worth increased 37 percent to $157 billion, reflecting his large stake as Nvidia stock gained nearly 42 percent.

Strong advances were also recorded by Amancio Ortega, owner of Inditex, and Oracle founder Larry Ellison, whose fortunes rose about 34 percent and 31 percent. Ortega benefited as Inditex shares gained 14 percent, while Oracle advanced 19 percent amid the AI boom. Ellison also secured partial control of TikTok and prevailed in the Paramount takeover, paving the way for an $8 billion merger with Skydance Media.

The Walton siblings — Rob, Jim and Alice — saw their wealth rise about 22 percent as Walmart stock climbed nearly 23 percent. Mukesh Ambani of Reliance Group and Bernard Arnault, chairman of LVMH, also recorded increases, with gains of 18 percent and 16 percent respectively.

Microsoft’s Steve Ballmer, Dell Technologies chief Michael Dell and Meta co-founder Mark Zuckerberg each reported gains of about 15 percent, while Amazon founder Jeff Bezos and Berkshire Hathaway chairman Warren Buffett ended the year with comparatively modest increases of around 6 percent.