Elon Musk has widened the gap between himself and the rest of the world’s richest people, adding a staggering $36 billion to his fortune in May alone.
The Tesla CEO now boasts an estimated net worth of $423 billion, according to Forbes’ latest data as of June 1.
Musk’s sharp wealth increase came after he stepped down from his controversial role as head of President Trump’s Department of Government Efficiency (DOGE), which had drawn criticism for distracting him from his business ventures.
More importantly, Tesla’s announcement that its long-awaited robotaxi will launch in June helped drive the company’s stock up by 23%, adding tens of billions to Musk’s personal fortune.
Zuckerberg Surges to No. 2, Dethrones Bezos
Meta CEO Mark Zuckerberg also enjoyed a strong May, adding $34 billion to his net worth after Meta shares surged 18%. The gain propelled him past Amazon founder Jeff Bezos into second place on the global wealth ranking. Bezos, whose wealth rose by $19 billion amid an 11% rise in Amazon stock, now sits in third with a net worth of $220 billion.
Overall, eight of the world’s ten richest people grew wealthier in May as U.S. stock markets rebounded from April’s volatility. The Nasdaq jumped 10% while the S&P 500 climbed 6%, buoyed by strong corporate earnings, easing trade tensions, and a moderate rise in U.S. consumer confidence.
Other Gainers and Losers
Microsoft’s former CEO Steve Ballmer climbed into the top 10, overtaking Spain’s Amancio Ortega after Microsoft shares rose 16%. Ballmer’s fortune increased by $15 billion to $133 billion. Ortega’s wealth inched up slightly by $600 million to $124 billion due to stagnant Inditex stock.
Not all billionaires benefited from the market rally. Berkshire Hathaway’s Warren Buffett lost $9 billion following a 5% dip in the company’s stock price, which coincided with his announcement that he would retire as CEO by year’s end. French luxury mogul Bernard Arnault, chairman of LVMH, also lost $3 billion as shares in his conglomerate fell 2%.
Despite the few declines, the combined net worth of the top ten richest individuals rose by $140 billion in May, reaching a collective $1.9 trillion at the start of June.
Top 10 Richest People in the World (as of June 1, 2025)
- Elon Musk – $423 billion
- Mark Zuckerberg – Estimated ~$290 billion
- Jeff Bezos – $220 billion
- Larry Ellison – Estimated ~$185 billion
- Warren Buffett – $158 billion
- Bernard Arnault – $144 billion
- Larry Page – Estimated ~$140 billion
- Sergey Brin – Estimated ~$138 billion
- Steve Ballmer – $133 billion
- Amancio Ortega – $124 billion
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