ISTANBUL

The number of billionaires worldwide rose to a record 3,428 this year, with a combined wealth of $20.1 trillion, according to Forbes’ 40th annual Billionaires List that was released Tuesday.

The list shows that booming artificial intelligence investments, volatile financial markets and supportive fiscal policies helped drive a surge in wealth creation, pushing about 400 new individuals onto the list compared to last year.

As the number of billionaires increased, their combined fortune also climbed sharply, rising $4 trillion year-on-year to a record $20.1 trillion.

The report found that 20 people now hold fortunes of at least $100 billion, underscoring the growing concentration of wealth among the world’s richest individuals.

US entrepreneur Elon Musk, owner of Tesla, SpaceX, X and xAI, retained the top spot for the second consecutive year with an estimated net worth of $839 billion, making him the richest person ever recorded.

Musk’s wealth surged by roughly half a trillion dollars in the past year, fueled largely by Tesla’s rising valuation and the anticipated public listing of SpaceX in 2026. His fortune makes him the first individual to surpass the $800 billion threshold, putting him on track to potentially become the world’s first trillionaire.

Larry Page, co-founder of Google, ranked second with an estimated $257 billion, followed by fellow Google co-founder Sergey Brin with $237 billion.

Amazon founder Jeff Bezos is fourth with $224 billion, while Meta CEO Mark Zuckerberg ranked fifth with $222 billion.

Trump’s wealth rises

The wealth of US President Donald Trump increased 27%, largely driven by gains linked to cryptocurrency ventures and the dismissal of penalties in a fraud case previously brought against him.

Trump’s estimated net worth rose to $6.5 billion, placing him 645th on the list.

The ranking also included several high-profile figures from entertainment and sports, including musician and entrepreneur Dr. Dre, singer Beyoncé Knowles-Carter and tennis legend Roger Federer.

US leads in the number of billionaires

The US remained home to the largest number of billionaires, with 989, including 15 of the top 20 on the list. Their combined wealth totaled $8.4 trillion.

China, including Hong Kong, followed with 610 billionaires, while India is third with 229.