This article first appeared on GuruFocus.
Bloomberg data indicate that the world’s 500 richest individuals added a record $2.2 trillion to their collective wealth this year, lifting combined net worth to $11.9 trillion as gains across equities, cryptocurrencies and precious metals supported asset values. The expansion in wealth was supported following Donald Trump’s election victory in late 2024, though momentum was briefly interrupted in April when tariff concerns triggered the largest one-day wealth decline since the pandemic. Bloomberg’s analysis suggests Big Tech remained a central driver, with ongoing artificial-intelligence optimism supporting US mega-cap stocks and concentrating roughly a quarter of total gains among eight individuals, including Tesla (NASDAQ:TSLA) chief executive Elon Musk, Oracle (NYSE:ORCL) chairman Larry Ellison, Alphabet (NASDAQ:GOOG) co-founder Larry Page and Amazon founder Jeff Bezos, although that contribution was smaller than the year prior.
Bloomberg’s wealth index shows Musk began the year as the most prominent figure among global billionaires, though his net worth appeared volatile as political involvement and time spent in Washington coincided with pressure on Tesla shares before a later rebound. The data highlight Ellison as a standout beneficiary of increased AI-related spending, briefly overtaking Musk in September following a sharp rise in Oracle shares linked to its cloud and AI infrastructure investments, even though the stock later retreated roughly 40% from its peak. Outside the United States, Bloomberg data show that wealth gains were broad-based, with the UK’s FTSE 100 and Hong Kong’s Hang Seng outperforming the S&P 500 through Dec. 30, while strong demand for safe-haven assets supported precious metals and boosted fortunes tied to copper and rare earths amid rising geopolitical significance.
Other asset classes produced more uneven outcomes during the year. Bloomberg data show Bitcoin surged to record highs following Trump’s election and the rollout of crypto-friendly policies, before a sharp selloff beginning in October erased those gains and weighed on crypto-focused billionaires including Michael Saylor. The index also highlights sharp reversals tied to company-specific events, including significant losses for property tycoon Manuel Villar after a collapse in Golden MV Holdings shares, and for Venture Global co-founders Bob Pender and Mike Sabel following a scaled-back IPO and subsequent stock decline. In China, Bloomberg data indicate Meituan co-founder Wang Xing saw his wealth fall as weakening domestic demand and intensifying competition offset a strong year for broader Chinese equity benchmarks, underscoring how market momentum in 2025 could be powerful but uneven across sectors and regions.