Billionaires have always been wealthy and influential, but their power has never been greater—especially in the United States. Donald Trump, who was inaugurated for a second term as president in January, has given billionaires unprecedented influence in his administration. His closest advisor is the world’s richest person, and at least ten billionaires or their spouses hold key roles in his government. Many other billionaire executives, including Meta’s Mark Zuckerberg and luxury magnate Bernard Arnault, have aligned with him.
This surge in billionaire influence isn’t confined to the U.S. The number of billionaires worldwide has hit a record 3,028, increasing by 247 from the previous year and surpassing the 3,000 threshold for the first time. Their combined wealth now stands at an all-time high of $16.1 trillion—$2 trillion more than last year and exceeding the GDP of every country except the U.S. and China. The average billionaire fortune has risen to $5.3 billion, up by $200 million from 2024.
For the first time, three individuals have crossed the $200 billion mark, and a record 15 people now belong to the exclusive $100 Billion Club. These centibillionaires collectively control $2.4 trillion, a sum larger than the combined wealth of the bottom half of the billionaire list.
Elon Musk leads the rankings with an estimated fortune of $342 billion. Despite his increased focus on DOGE, Trump’s cost-cutting initiative, Musk has gained $147 billion in the past year due to the success of his space company SpaceX and AI venture xAI, which he recently merged with social media platform X. Even with recent controversies affecting Tesla, the company’s stock remains higher than a year ago. This resurgence has allowed Musk to reclaim his position as the world’s richest person, widening the gap between himself and Zuckerberg ($216 billion), who now holds second place. Amazon’s Jeff Bezos ($215 billion) ranks third, followed by Oracle’s Larry Ellison ($192 billion). Arnault, with $178 billion, has dropped to fifth place—the lowest since 2017—due to a decline in LVMH shares. Forbes based its rankings on stock prices and exchange rates from March 7, 2025.
The U.S. continues to lead in billionaire numbers, with a record 902 individuals, followed by China (516, including Hong Kong) and India (205). Over half of all billionaires hail from these three countries, but billionaires can now be found in 76 nations and two semi-autonomous territories, with Albania making its debut on the list. Saudi Arabia also saw a resurgence, with 15 billionaires added after their removal in 2018 due to government actions.
This year’s list includes 288 new billionaires, featuring celebrities like Bruce Springsteen ($1.2 billion), Arnold Schwarzenegger ($1.1 billion), and Jerry Seinfeld ($1.1 billion). Other notable newcomers include crypto entrepreneur Justin Sun ($8.5 billion), several AI innovators from companies like Anthropic and CoreWeave, and the founders of restaurant chains such as Chipotle and Jersey Mike’s.
The wealthiest new entrant is Marilyn Simons ($31 billion), the widow of hedge fund legend Jim Simons, who passed away in May 2024. She is among 406 female billionaires, representing 13.4% of the list—an increase from 13.3% last year. The majority of these women inherited their wealth, including Alice Walton ($101 billion), the world’s richest woman, who has overtaken L’Oreal heiress Françoise Bettencourt Meyers ($81.6 billion). Among the 113 self-made female billionaires, Swiss shipping tycoon Rafaela Aponte-Diamant ($37.7 billion) leads the rankings.
Overall, 67% of the billionaires built their own fortunes, up from 66% last year. The youngest self-made billionaire is Scale AI cofounder Alexandr Wang ($2 billion) at age 28. There are 21 billionaires under 30, including Johannes von Baumbach ($5.4 billion), a 19-year-old German pharmaceutical heir, who is now the youngest billionaire. The oldest is George Joseph (103, $1.9 billion), a U.S. insurance tycoon. The average billionaire is 66 years old.
Few billionaires had a better year than Donald Trump, who not only regained the presidency but also significantly increased his wealth. Before reentering the White House, he expanded his fortune through cryptocurrency investments. Combined with his Trump Media & Technology Group going public, his net worth more than doubled from $2.3 billion to $5.1 billion.
However, not all billionaires thrived. A total of 107 individuals dropped off the list, including Lisa Su, CEO of AMD; Sara Liu, cofounder of Supermicro; and Nicholas Puech, an heir to the Hermès fortune, who claims his wealth has disappeared.
Forbes’ World’s Billionaires list ranks individuals with a net worth of at least $1 billion as of March 7, 2025. Some fortunes have fluctuated since then, and additional billionaires have been identified post-publication. The methodology includes analyzing stock holdings, real estate, luxury assets, regulatory filings, and interviews with industry insiders. In cases where wealth is shared among immediate family members, the ranking reflects this under the name of the primary billionaire. For a full list of the 3,028 billionaires, visit Forbes’ website.
