Elon Musk is once again the richest person in the world, according to the Hurun Global Rich List for 2025. His net worth has risen to $420 billion and cemented his dominance as a global billionaire.
Musk’s lead was not affected, but the rankings saw a major shift with Indian tycoon Mukesh Amani dropping out of the top 10.
Ambani still holds the title of Asia’s richest person.
Silicon Valley billionaires dominate rankings
The latest Hurun rankings show the dominance of American technology billionaires.
Silicon Valley moguls dominated the list, with Musk being followed by Amazon’s Jeff Bezos and Meta’s Mark Zuckerberg. Oracle’s Larry Ellison was also in the top five.
Warren Buffett, a veteran investor, was the only nontechnical figure in the top five. He maintained his status as the world’s best-known investor.
Nine of the top ten richest people in the world are Americans, with Bernard Arnault (the French fashion magnate who founded LVMH) being the lone exception.
Musk’s wealth surge is fuelled by Tesla rally and “Trump effect”.
Musk’s financial leap – an 82% jump amounting $189 billion – was largely fueled the soaring Tesla stock price.
Analysts attribute this increase to what is known as the “Trump Effect,” a phenomenon which has seen a surge of billionaire wealth since Donald Trump’s return into prominence.
Alongside Musk, other US-based billionaires also saw sharp gains.
Mark Zuckerberg of Meta, Jeff Bezos of Amazon, and Jensen Huang of Nvidia each saw their net worth increase by over $80 billion.
Musk made history as the first person in history to surpass a fortune of $400 billion.
Peter Thiel, his close ally and investor, saw a 67% increase in his wealth to $14 billion.
The billionaire’s fortune, however, has been a source of turmoil. Musk’s networth has fallen by about $100 billion since the list’s January 2025 cutoff date, mainly due to a sharp decline in Tesla’s stock market capitalization.
The automaker’s value plummeted by $700 billion, as investors grew weary of the increasing competition from Chinese EV manufacturers and Musk’s polarizing statements.
Musk is still at the top of global wealth rankings despite the setbacks.
Mukesh Ambani slips, but still holds Asia’s top spot
Mukesh Ambani of Reliance Industries has dropped out of the top 10 global wealth list after his wealth decreased by Rs 1 lakh crore compared to the previous year.
The decline in Reliance’s stock price has been attributed by analysts to a rising debt level and a weaker performance of the company’s core retail and energy businesses.
Ambani remains Asia’s richest individual, with a Net Worth of Rs 8,6 lakh crore.
As part of his long-term strategy, his conglomerate now focuses on digital expansion, investments in renewable energy, and retail growth.
Gautam Adani is India’s largest wealth gainer
While Ambani suffered losses, Gautam Adani, a fellow industrialist, experienced a remarkable rise to fortune.
The Adani Group Chairman saw his wealth increase by almost Rs 1 lakh crore. He is now India’s richest person on the Hurun Global Rich List for 2025.
Adani’s networth grew by 13% and he is now just behind Ambani.
His rise is a reflection of the expansion of his infrastructure empire which includes energy, ports and airports.
The latest rankings highlight the increasing dominance of tech-billionaires, while also highlighting the economic volatility that is affecting some of the biggest business leaders in the world.
This post Hurun Global Rich List: Elon Musk remains world’s richest; Mukesh Ambani drops from top 10 rankings could be modified as updates unfold.
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