By Jay Hilotin Visuals By Vijith Pulikkal, Assistant Product Manager
During a sharp market sell-off triggered by tariff announcements in early April 2025, the world’s the top 10 billionaires lost $172 billion – in just three days. This included losses of $11 billion for Elon Musk and nearly $16 billion for Jeff Bezos, Business Insider reported. But in the bigger scheme of things, over the first half of 2025, it was a minor blip..HighlightsShort-term losses: The top 10 billionaires lost $172 billion in a sharp 3-day market crash in April 2025.Longer-term gains: Despite volatility, the richest 500 gained about $505 billion late 2024 into early 2025, mainly from tech sector growth.Net effect: Wealth among the richest remains highly volatile but with a strong upward trend driven by technology and innovation sectors..Market shocksThe broader trend for 2025 shows substantial gains for many tech billionaires.Bloomberg data from early 2025 highlights that the world’s 500 richest people collectively gained around $505 billion in the five weeks following the 2024 US election, with tech leaders like Tesla’s Elon Musk, Meta’s Mark Zuckerberg, and Nvidia’s Jensen Huang driving much of this surge. Musk’s net worth more than doubled in 2024, reaching over $440 billion, although he faced volatility in the first half of 2025.So, while brief market shocks caused steep paper losses, the overall wealth of the richest individuals has grown significantly over recent months. This reflects the ongoing tech-driven economic expansion. Here’s the lowdown on H1 2025 winners and losers among top tycoons:.Winners.The Oracle boss is the biggest winner among the world’s business tycoons this year, posting $52.2 billion gains since January 2025, bringing his total wealth to $246 billion, according to Bloomberg data. Ellison stepped down as CEO in 2014 but remains Oracle’s chairman and chief technology officer, owning about 40% of the company. His fortune is primarily tied to his substantial stake in Oracle, whose market capitalization exceeds $180 billion. Ellison’s wealth reflects Oracle’s continued dominance in database software, cloud computing, and enterprise solutions. .His wealth grew in the first half of 2025, as per Forbes and Statista. As of May and June 2025, his estimated net worth ranged from about $216 billion to $222 billion, marking a roughly 4% increase year-to-date and a gain of around $24 billion since early 2025. This growth is largely tied to the rising value of Meta’s stock, which increased by about 4% to over $630 per share during this period. Despite occasional fluctuations, his personal stake in Meta significantly boosted his net worth, making him the second-richest individual globally by mid-2025..Jensen Huang.Huang’s wealth grew significantly in the first half of 2025. According to multiple sources, his net worth increased from around $106 billion in early 2024 to estimates between $118 billion and $138 billion by mid-2025, according to The Street..His wealth is largely due to Nvidia’s soaring stock price amid a booming AI chip market. Huang owns about 3.5% of Nvidia’s shares — approximately 86 million shares — which form the bulk of his fortune..Warren Buffett. His wealth grew notably in the first half of 2025. According to including Bloomberg and Forbes, Buffett’s net worth increased by approximately $11.5 billion to $15.4 billion during this period, reaching around $153.5 billion to $160 billion by mid-2025. This rise is largely attributed to the strong performance of Berkshire Hathaway’s stock, which gained about 12% year-to-date, outperforming the broader market. Buffett’s cautious investment strategy and Berkshire’s diversified portfolio helped his fortune grow while many other billionaires faced losses. He remains one of the world’s richest individuals, ranking between fourth and sixth globally in 2025..Steve Balmer.Bloomberg’s Billionaires Index estimated Balmer’s wealth at around $151 billion in May 2025, while some sources like Celebrity Net Worth reported figures as high as $166 billion in mid-2025, reflecting Microsoft’s stock gains and Clippers’ rising valuation. His net worth surpassed Bill Gates’ in mid-2024 and he remains one of the top 10 richest people worldwide. While there are variations in exact figures, the consensus is that Ballmer’s wealth either held steady or experienced modest growth in H1 2025, supported by Microsoft’s strong performance and his diversified investments..Losers | slower growth .Elon Musk.Musk’s wealth declined significantly in H1 2025 from its peak in late 2024. His net worth peaked at around $486 billion in December 2024, fuelled by Tesla’s soaring stock price and SpaceX’s valuation. However, by March to May 2025, his fortune had dropped to $314 billion to $381 billion, according to Bloomberg and Forbes estimates. Bloomberg estimates that Musk’s wealth dropped by a whopping $71 billion since the start of the year, mainly due to a sharp fall in Tesla’s stock price from its all-time highs. Still, Musk remained the wealthiest person in the world in mid-2025. The fluctuations reflect the volatility of tech and automotive markets but underscore Musk’s continued dominance among global billionaires. .Larry Page and Sergey Brin .In H1 2025, Google founders Page and Brin experienced a decline in their net worth compared to earlier in the year amid market corrections and investment risks. According to Bloomberg and Forbes data, as of early 2025, Larry Page’s net worth was estimated between $148 billion and $159 billion, while Sergey Brin’s was around $149 billion to $151 billion. However, by March 2025, both saw their fortunes drop by about $20 billion each amid a broader tech stock downturn and Alphabet’s stock falling nearly 13% in 2025 due to market volatility and heavy AI investments. Despite Alphabet’s strong revenue growth and leadership in AI, the large capital expenditures and competitive pressures created near-term uncertainty, impacting their net worth. Still, both remain among the world’s richest. .Bill Gates.Some reports note that his net worth ranges between $106.5 billion and $116.6 billion, depending on the source and timing of valuation. According to Forbes (April 2025), Gates’ net worth was about $106.5 billion, with much of it tied to his remaining less than 1% stake in Microsoft, valued at roughly $28.6 billion. Other estimates place his net worth slightly higher, around $108.7 billion to $108.8 billion as of mid-2025..Mukesh Ambani.India’s and Asia’s richest man saw his net worth decline from about $116 billion in early 2024 to around $92.5 billion by April 2025, a significant drop over roughly one year, as per Chegg India. From April to June 2025, however, the Chairman & Managing Director of Reliance Industries Ltdsaw his wealth rebound modestly by approximately $2.5 to $5 billion, reaching near $95–98 billion. Overall, in the first half of 2025, Ambani’s net worth was relatively stable with slight gains after a prior steep decline. Factors affecting his net worth included the performance of Reliance Industries in petrochemicals, retail, telecom (Jio). His expansion in digital and renewable sectors contributed to recent growth in Ambani’s wealth, according to Witan World..Bernard Arnault.His wealth in the first half of 2025 declined somewhat compared to earlier peaks but remained extremely high. According to Forbes and other sources, his net worth was estimated around $178 billion in early 2025, placing him among the top five richest people globally. However, some reports indicate a drop from a peak of over $218 billion in mid-2024 to approximately $147 billion to $186 billion during 2025, reflecting market volatility and fluctuations in LVMH’s stock price. Despite these swings, Arnault remains one of the wealthiest individuals worldwide. His fortune closely tied to the performance of LVMH, the world’s largest luxury goods company. .Wealth drivers in 2025.The first half of 2025 was marked by tech-driven wealth surges, with AI, cloud computing, and space exploration as key growth engines. Traditional sectors like retail and investments saw steadier, slower gains. Elon Musk remains the undisputed richest person, with Zuckerberg and Google founders closing in..Here’s the list of winners and losers among world’s richest in the first thalf of 2025, as per Bloomberg..Bloomberg Billionaires Index (As of July 3, 2025).Note: The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.