Hurun Global Rich List 2025: Elon Musk remains the world’s richest, Mukesh Ambani drops out of top 10 rankings

Elon Musk has once again secured the title of the world's richest person, according to the Hurun Global Rich List 2025 with the Tesla and SpaceX chief's net worth surging to $420 billion, cementing his dominance among global billionaires.

While Musk maintained his lead, the rankings witnessed a major shakeup with Indian tycoon Mukesh Ambani slipping out of the top 10 wealthiest individuals.

Despite this, Ambani continues to hold the title of Asia’s richest person.

Silicon Valley billionaires dominate the rankings

The latest Hurun rankings highlight the growing dominance of American tech billionaires.

Silicon Valley moguls filled most of the top spots, with Musk followed by Amazon’s Jeff Bezos, Meta’s Mark Zuckerberg, and Oracle’s Larry Ellison.

Among the top five, veteran investor Warren Buffett was the only non-tech figure, maintaining his status as one of the world's most successful investors.

Notably, nine of the top ten billionaires hail from the United States, with Bernard Arnault, the French fashion magnate behind LVMH, being the only exception.

Musk's wealth surge fuelled by Tesla’s rally and the "Trump effect"

Musk’s financial leap—an 82% jump amounting to $189 billion—was largely fueled by the soaring stock price of Tesla.

Analysts have attributed this increase to the so-called “Trump effect,” a phenomenon that has seen a surge in billionaire wealth following Donald Trump’s return to political prominence.

Alongside Musk, several other US-based billionaires have seen sharp gains.

Meta’s Mark Zuckerberg, Amazon’s Jeff Bezos, and Nvidia’s Jensen Huang each recorded an increase of over $80 billion in their net worths.

Musk also made history by becoming the first person to surpass a $400 billion fortune.

His close ally, investor Peter Thiel, also saw a substantial 67% jump in his wealth, reaching $14 billion.

However, the billionaire’s fortune has faced turbulence. Since the list’s cutoff date in January 2025, Musk’s net worth has declined by roughly $100 billion, driven by a sharp drop in Tesla’s market capitalization.

The automaker’s valuation plunged by $700 billion as investors grew wary of increasing competition from Chinese EV makers and Musk’s polarizing political statements.

Despite the setbacks, Musk remains firmly at the top of the global wealth rankings.

Mukesh Ambani slips but holds onto Asia’s top spot

Mukesh Ambani, chairman of Reliance Industries, has fallen out of the global top 10 after his wealth declined by Rs 1 lakh crore from the previous year.

The decline has been attributed to rising debt and weaker performance in Reliance’s core energy and retail businesses.

Nevertheless, Ambani continues to lead as Asia’s richest person, with a net worth of Rs 8.6 lakh crore.

His conglomerate is now focusing on digital expansion, renewable energy investments, and retail growth as part of its long-term strategy.

Gautam Adani emerges as India’s biggest wealth gainer

While Ambani faced losses, fellow industrialist Gautam Adani experienced a remarkable rise in fortune.

The Adani Group chairman saw his wealth increase by nearly Rs 1 lakh crore, making him India’s biggest wealth gainer on the Hurun Global Rich List 2025.

Adani’s net worth grew by 13%, placing him just behind Ambani in the rankings.

His rise reflects the ongoing expansion of his infrastructure empire, which spans energy, ports, and airports.

As the global wealth landscape continues to shift, the latest rankings underscore the growing dominance of tech billionaires while highlighting the economic volatility affecting some of the world's biggest business leaders.