New York, United States – The summer rally on Wall Street continued into August, with major U.S. stock indices hitting fresh record highs. Yet, not even a booming market could guarantee smooth sailing for the world’s wealthiest. According to Forbes, the combined net worth of the top 10 richest people rose by a modest 1% — about $21 billion — to reach $2.13 trillion, as soaring tech valuations lifted some fortunes while eroding others.
Elon Musk maintained his position as the world’s richest person for the 16th consecutive month, with a staggering net worth of $415.6 billion — $14.4 billion higher than in July. The Tesla and SpaceX chief widened his lead over Oracle cofounder Larry Ellison, whose wealth plunged by nearly $29 billion after a sharp drop in Oracle’s share price. The gap between Musk and Ellison now stands at an extraordinary $144.7 billion.
Not all tech leaders shared Musk’s momentum. Meta CEO Mark Zuckerberg saw his fortune decline by $13.7 billion amid investor concerns over rising AI costs, while Amazon founder Jeff Bezos lost $5.5 billion as shares of the e-commerce giant slipped 2.3%. Nvidia’s Jensen Huang — once the poster child of the AI chip boom — dropped three spots to No. 9 after a $3.5 billion dip, driven by fears of Chinese competition and valuation pressures.
Others, however, thrived amid the volatility. Google cofounders Larry Page and Sergey Brin enjoyed significant gains of $20.3 billion and $15.1 billion respectively, buoyed by a nearly 9% surge in Alphabet’s share price. Luxury titan Bernard Arnault climbed to No. 7 from No. 10, as resilient margins at his LVMH empire added $11.2 billion to his fortune.
The list also featured familiar names such as Microsoft’s former CEO Steve Ballmer, who grew $4.4 billion richer, and legendary investor Warren Buffett, whose net worth rose by $7 billion. Buffett, now 95, remains an icon of long-term investing and philanthropy as he prepares to step down as Berkshire Hathaway’s CEO in 2025.
The shifting rankings reflect a broader truth about modern wealth: fortunes are increasingly tied to the volatility of technology and market sentiment. While the U.S. equity market continues to defy expectations, August’s results reveal a landscape where even the richest are not immune to market turbulence — and where the race for global wealth dominance remains as dynamic as ever.
Here’s how the top 10 billionaires stand as of September 1, 2025: Elon Musk, Larry Ellison, Mark Zuckerberg, Jeff Bezos, Larry Page, Sergey Brin, Bernard Arnault, Steve Ballmer, Jensen Huang, and Warren Buffett. And as markets evolve, so too will the fortunes — and rivalries — that define the pinnacle of global wealth.
