Since Election Night, Elon Musk, who played an active role in President Donald Trump‘s efforts to secure a second term in 2025, only gained greater influence in Trump’s inner circle until their falling out. In November 2024, Trump announced that Musk, along with former Republican presidential candidate Vivek Ramaswamy, would lead the newly established Department of Government Efficiency (DOGE), which was not an official government agency. Trump said the duo “will pave the way for my administration to dismantle government bureaucracy, cut excessive regulations, eliminate wasteful spending, and restructure federal agencies.”
In addition to this role, Trump’s continued endorsement of Musk initially helped boost his business ventures. For example, SpaceX’s valuation surged to around $350 billion, according to a Bloomberg report from December 2024.”
However, Musk’s top-ranking as the world’s richest man was dethroned by fellow billionaire Larry Ellison, who as of 2025, is now the wealthiest person on earth, according to Bloomberg.
Find out who else is currently among the richest people in the world.
Musk has an estimated value of around $385 billion as of 2025, according to multiple outlets. In December 2024, he reached his highest net worth, surpassing $400 billion, but that decreased the following year.
Ellison has a net worth of about $390 billion thanks to a surge in his company Oracle’s stock pricing skyrocketed in September 2025. Just days prior, Ellison’s net worth was $100 billion lower.
As of today, the richest people in the world according to Bloomberg, Forbes and several other outlets are:
