Elon Musk Reclaims Title as World's Richest Man with Record $342 Billion Net Worth
- Abeera Marium Siddiqui
- April 7, 2025
- 1:50 pm
- 41
- Food & Lifestyle
Elon Musk has officially returned as the world’s richest man, according to Forbes’ latest World Billionaires List. His net worth skyrocketed by 75% over the past year, reaching an all-time high of $342 billion. This makes Musk not only the wealthiest man today but also the richest individual Forbes has ever recorded.
Last year, Musk had dropped behind Bernard Arnault, the French luxury magnate behind brands like Louis Vuitton, Tiffany & Co., and Sephora. At the time, Musk’s net worth stood at $195 billion. But a dramatic rebound in SpaceX and Tesla stock helped him climb back to the top.
SpaceX Surpasses Tesla as Musk’s Top Asset
For the first time, SpaceX contributed more to Musk’s fortune than Tesla. The billionaire owns a 42% stake in SpaceX, which continues to grow as a key partner in NASA operations. A recent mission involving the recovery of astronauts Barry Wilmore and Sunita Williams from the International Space Station used a SpaceX vehicle, showing just how vital the company has become.
While Tesla has faced criticism and internal challenges, its stock still performed strongly. However, SpaceX now leads Musk’s wealth portfolio, driving the biggest gains this year. The success of SpaceX played a major role in cementing his position once again as the world’s richest man. Investors are betting big on its future growth.
Zuckerberg, Bezos Trail Behind in Rankings
Meta CEO Mark Zuckerberg landed in second place on this year’s list, followed by Amazon founder Jeff Bezos in third. Bernard Arnault, last year’s leader, dropped to fifth. His fall came after a major decline in demand for luxury goods, which caused LVMH stock to drop.
Elon Musk now holds nearly twice the wealth of Arnault, whose current net worth is estimated at $178 billion.
Political Power Boosts Musk’s Influence
Musk’s comeback isn’t just financial. His political influence has also played a major role. Following the 2024 U.S. election, Donald Trump returned to the White House and appointed Musk as head of the newly formed Department of Government Efficiency.
That role gives Musk direct involvement in federal regulation and spending. His close friendship with Trump has boosted investor confidence, further strengthening the value of his companies.
A New Era of Billionaire Power
Forbes described Musk’s rise as historic:
“This is Musk’s 14th consecutive appearance on the annual World’s Billionaires ranking. The 53-year-old businessman, who has vaulted to political prominence as one of President Donald Trump’s closest advisors, boasts a net worth of $342 billion, making him not just the richest person in the world, but the richest person Forbes has ever tracked.”
Musk’s massive lead—more than $100 billion ahead of Zuckerberg—puts the world’s richest man in a league of his own. However, continued backlash against Tesla and market shifts could still influence his future standing.
