In a stunning financial shakeup, the world’s wealthiest have seen their fortunes skyrocket in May 2025, with Elon Musk leading the charge. As of June 1st, Musk, who recently stepped down from his role in President Trump’s Department of Government Efficiency, has amassed a staggering $423 billion, bolstered by a $36 billion surge in his wealth following Tesla’s announcement of its highly anticipated robo taxi launch. This explosive growth has solidified Musk’s position as the richest person on the planet by a wide margin.

The top 10 richest individuals collectively boast an eye-popping $1.9 trillion, a remarkable $140 billion increase since May 1st. Mark Zuckerberg has catapulted into the number two spot after witnessing a $34 billion increase in his net worth, now totaling $224 billion, thanks to an 18% surge in Meta’s stock. He has overtaken Jeff Bezos, whose fortune climbed to $220 billion, despite a more modest $19 billion gain.

The financial landscape has shifted dramatically as the NASDAQ and S&P 500 rebounded from a tumultuous April, spurred by better-than-expected corporate earnings and easing trade tensions. Microsoft CEO Steve Ballmer has surged into the number nine position, with his fortune climbing by $15 billion to $133 billion, while fast fashion mogul Amancio Ortega slipped to tenth place.

However, not all fortunes are on the rise. Warren Buffett, the Oracle of Omaha, faced the biggest drop, losing $9 billion and now standing at $158 billion, following a 5% decline in Berkshire Hathaway’s shares. Bernard Arnault, the luxury goods titan, also saw a $3 billion dip in his wealth.

As the financial world watches these developments closely, the dynamics among the richest are shifting rapidly. For ongoing updates and in-depth analysis, stay tuned to Forbes. This is Kieran Meadows reporting for Forbes.