Elon Musk’s wealth has taken a sharp hit in 2025, tumbling by roughly $80 billion as Tesla’s stock dropped 20% this year. That slide has left just a $60 billion gap between Musk and Oracle co-founder Larry Ellison—meaning one more major Tesla downturn could end Musk’s reign as the world’s richest person.
Musk, who claims to have eliminated billions in wasteful spending during his stint as head of the Department of Government Efficiency (DOGE), may have seen his controversial role come at a bigger personal cost than expected.
According to the Bloomberg Billionaires Index, Musk’s current net worth stands at about $352 billion, down from more than $450 billion at its peak late last year. The bulk of his losses are tied to his 13% stake in Tesla, which has struggled in 2025. Despite calls from shareholders to step away from DOGE and refocus on the automaker, Musk’s return to Austin hasn’t stopped the bleeding—Tesla missed Wall Street estimates and reported a double-digit revenue drop in the second quarter, sending shares down nearly 20% for the year.
Still, Tesla investors aren’t backing away from their CEO. Shareholders recently approved a $29 billion pay package for Musk, calling it a “critical first step” toward keeping him focused on the company, according to The New York Times.
Rivals Closing In
While Musk still holds the No. 1 spot among the world’s richest, the gap is narrowing. Larry Ellison and Mark Zuckerberg are within striking distance, buoyed by strong gains in their companies.
Tesla had a banner year in 2024, with its stock nearly doubling and the market cap surpassing $1.4 trillion in December. That surge cemented Musk’s lead after years of jockeying with Jeff Bezos and Bill Gates. His fortune also comes from sizable stakes in SpaceX, Neuralink, the Boring Company, and XAI Holdings—the combined entity of social platform X and AI startup xAI.
But not all of Musk’s ventures are thriving. Bloomberg reports xAI is burning through about $1 billion a month, and the Boring Company’s valuation has fallen from $8.6 billion in mid-2023 to $6.4 billion.
Musk’s businesses have long benefited from government partnerships—The Washington Post estimates they’ve received about $38 billion in contracts, loans, and subsidies. Yet his public image is faltering. A June Quinnipiac poll found only 30% of voters view him favorably, and even Republican support has slipped following a budget clash with President Donald Trump.
How the Crown Could Change Hands
Musk isn’t the only billionaire losing ground in 2025. Jeff Bezos has seen his fortune shrink by $1.7 billion amid Amazon’s stock struggles, while Bill Gates is down $36 billion, largely due to increased philanthropic giving.
In contrast, Ellison has gained $102 billion this year, Zuckerberg $56 billion, and Nvidia’s Jensen Huang $37 billion. Oracle’s renewed focus on AI has driven its stock up more than 50%, fueling Ellison’s rapid rise in wealth.
“Oracle’s future is bright in this new era of cloud computing,” Ellison told investors in June. “We’re already prospering in this new era of cloud computing and AI—and it’s just the beginning.”
If Oracle’s momentum continues and Tesla’s slump deepens, Ellison could overtake Musk as the world’s wealthiest individual before the year ends.
