Forbes released its 2025 list of the 400 wealthiest Americans on September 9, naming South African-born entrepreneur Elon Musk as the richest person in the US for the fourth year in a row.
Musk, CEO of Tesla and SpaceX, broke the $400 billion mark, making him the first person in history to reach this milestone.
The Forbes billionaires list highlights that the combined net worth of the 400 richest Americans is a record $6.6 trillion, over $1 trillion higher than last year.
Top contenders and wealth sources
Musk leads the list, followed by Larry Ellison, co-founder of Oracle, with $276 billion, and Mark Zuckerberg of Meta (Facebook) with $253 billion. Other tech giants in the top ten include Jeff Bezos ($241B), Larry Page ($179B), and Sergey Brin ($166B).
The Forbes list includes notable figures across industries: from finance and investments like Warren Buffett ($150B) and Stephen Schwarzman ($51.9B), to retail dynasties such as the Walton family, with multiple members in the top 50.
Key highlights
14 newcomers joined the elite 400, including four with fortunes exceeding $10 billion.
Wealthiest Americans are predominantly in technology, finance, and retail.
Forbes used September 1 estimates to calculate net worth, accounting for assets, public holdings, and private business valuations.
Top 10 richest Americans
Elon Musk – $428B – Tesla, SpaceX – Texas
Larry Ellison – $276B – Oracle – California
Mark Zuckerberg – $253B – Facebook – California
Jeff Bezos – $241B – Amazon – Florida
Larry Page – $179B – Google – California
Sergey Brin – $166B – Google – California
Steve Ballmer – $153B – Microsoft – Washington
Jensen Huang – $151B – Semiconductors – California
Warren Buffett – $150B – Berkshire Hathaway – Nebraska
Michael Dell – $129B – Dell Technologies – Texas
The technology sector dominates the list, underscoring its continued role as a wealth driver in the US Meanwhile, retail, finance, and investments remain strong contributors. The record-setting net worth of the top 400 reflects rising valuations and asset accumulation, intensifying discussions about economic inequality.
Forbes’ full top 50 list includes figures from diverse sectors, including casinos, sports, healthcare, and semiconductors, illustrating the breadth of America’s wealth ecosystem.
Industry breakdown
The dominant sources of wealth include:
Technology: Tesla, Oracle, Facebook, Google, Microsoft
Finance: Hedge funds, trading, investments
Healthcare & Semiconductors: Dell, Nvidia, hospitals
Media & Real Estate: Bloomberg, Murdoch, Kroenke
Geographic distribution
California and Texas continue to host the largest number of billionaires, with notable figures like Musk, Dell, Ellison, and the Walton family. Florida, New York, and Washington also feature prominently.
Newcomers
This year, 14 newcomers joined the elite ranks, including four worth over $10 billion. Among them are AI entrepreneurs and tech disruptors like Edwin Chen of Surge AI and Vlad Tenev of Robinhood.
Women on the list
Women make up just over 15% of the Forbes 400, with Alice Walton remaining the richest woman in America at $106 billion. Diane Hendricks, with $22.3 billion, retains her title as the richest woman.