5
#000000
#FFFFFF
Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai, and Elon Musk attend the inauguration of Donald J. Trump in the US Capitol Rotunda on January 20, 2025 in Washington, DC.
(Photo by Julia Demaree Nikhinson - Pool/Getty Images)
The First Year of Trump's Second Term Was Terrific—for US Billionaires
Over 2025, the combined wealth of all US billionaires climbed to $8.1 trillion, a 21% increase over 2025, up from $6.7 trillion exactly a year ago.
Jan 02, 2026
The first year of the Trump administration was a very happy new year for the US billionaire class. The richest 15 billionaires, all with assets more than $100 billion, saw their combined wealth surge 33%, from $2.4 trillion to $3.2 trillion. This is double the growth of the S&P 500 over 2025, which was 16.4%.
Over 2025, the combined wealth of all US billionaires climbed to $8.1 trillion, a 21% increase over 2025, up from $6.7 trillion exactly a year ago.
Based on an Institute for Policy Studies analysis of data from the Forbes real time billionaire list from 2025, there are 935 billionaires in the United States with combined wealth totaling $8.1 trillion at the close of 2025 markets. This is an increase from 813 US billionaires at end close of 2024 markets, with combined wealth of $6.7 trillion.
The richest three American wealth dynasties—the Waltons, Mars, and Koch families—saw their wealth accelerate from $657.8 billion to $757 billion in one year.
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
[Note: Bloomberg reported global billionaire wealth increased $2.2 trillion over 2025, in an analysis released several days before the market closed at 4:00 p.m. on December 31, 2025. The market fluctuated considerably in the final days of 2025.]
The top five current billionaires and their individual wealth on January 1, 2026, compared to January 1, 2025:
- Elon Musk of Tesla/X and SpaceX with $726 billion, up from $421 trillion a year ago.
- Larry Page of Google, with $257 billion, up from $156 billion a year ago.
- Larry Ellison of Oracle fame with $245.billion, up from $209 billion a year ago.
- Jeff Bezos of Amazon with $242.billion, up from $233.5 billion a year ago.
- Sergey Brin of Google with $237 billion, up from $148.9 billion a year ago.
The three wealthiest dynastic families in the US hold an estimated $757 billion, up from $657.8 billion at the end of 2024, a 16% gain. These are:
- Walton. Seven members of the Walton Family with combined wealth of $483 billion, up from $404.3 billion a year ago.
- Mars. Six members of Mars family with combined wealth of $120 billion, down from $130.4 billion a year ago.
- Koch. Two members of Koch family have a combined wealth of $154.8 billion, up from $121.1 billion a year ago.
Wealth Gains Since Beginning of Pandemic
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. Less than five years later, at the end of 2025, Musk’s wealth is $726 billion, a dizzying 2,800% increase from before the Covid-19 pandemic.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $242 billion at the end of 2025.
Three Walton family members—Jim, Alice, and Rob, saw their combined assets increase from $161.1 billion on March 18, 2020 to $378 billion at the end of 2025.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Chuck Collins is a senior scholar at the Institute for Policy Studies where he co-edits Inequality.org. His newest book is Burned by Billionaires: How Concentrated Wealth and Power is Ruining Our Lives and Planet (The New Press). His near future novel "Altar to An Erupting Sun” explores one community’s response to climate disruption. He is author of numerous books and reports on inequality and the racial wealth divide, including “The Wealth Hoarders: How Billionaires Spend Millions to Hide Trillions,” “Born on Third Base,” and, with Bill Gates Sr., of “Wealth and Our Commonwealth: Why American Should Tax Accumulated Fortunes.” See more of his writing at www.chuckcollinswrites.com.
donald trump
elon musk
institute for policy studies
jeff bezos
larry ellison
walton family
billionaires
The first year of the Trump administration was a very happy new year for the US billionaire class. The richest 15 billionaires, all with assets more than $100 billion, saw their combined wealth surge 33%, from $2.4 trillion to $3.2 trillion. This is double the growth of the S&P 500 over 2025, which was 16.4%.
Over 2025, the combined wealth of all US billionaires climbed to $8.1 trillion, a 21% increase over 2025, up from $6.7 trillion exactly a year ago.
Based on an Institute for Policy Studies analysis of data from the Forbes real time billionaire list from 2025, there are 935 billionaires in the United States with combined wealth totaling $8.1 trillion at the close of 2025 markets. This is an increase from 813 US billionaires at end close of 2024 markets, with combined wealth of $6.7 trillion.
The richest three American wealth dynasties—the Waltons, Mars, and Koch families—saw their wealth accelerate from $657.8 billion to $757 billion in one year.
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
[Note: Bloomberg reported global billionaire wealth increased $2.2 trillion over 2025, in an analysis released several days before the market closed at 4:00 p.m. on December 31, 2025. The market fluctuated considerably in the final days of 2025.]
The top five current billionaires and their individual wealth on January 1, 2026, compared to January 1, 2025:
- Elon Musk of Tesla/X and SpaceX with $726 billion, up from $421 trillion a year ago.
- Larry Page of Google, with $257 billion, up from $156 billion a year ago.
- Larry Ellison of Oracle fame with $245.billion, up from $209 billion a year ago.
- Jeff Bezos of Amazon with $242.billion, up from $233.5 billion a year ago.
- Sergey Brin of Google with $237 billion, up from $148.9 billion a year ago.
The three wealthiest dynastic families in the US hold an estimated $757 billion, up from $657.8 billion at the end of 2024, a 16% gain. These are:
- Walton. Seven members of the Walton Family with combined wealth of $483 billion, up from $404.3 billion a year ago.
- Mars. Six members of Mars family with combined wealth of $120 billion, down from $130.4 billion a year ago.
- Koch. Two members of Koch family have a combined wealth of $154.8 billion, up from $121.1 billion a year ago.
Wealth Gains Since Beginning of Pandemic
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. Less than five years later, at the end of 2025, Musk’s wealth is $726 billion, a dizzying 2,800% increase from before the Covid-19 pandemic.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $242 billion at the end of 2025.
Three Walton family members—Jim, Alice, and Rob, saw their combined assets increase from $161.1 billion on March 18, 2020 to $378 billion at the end of 2025.
From Your Site Articles
- The Billionaires Destroying Our Media System and What To Do About It ›
- Pro-Trump Billionaires Want to Control What You Watch ›
- Americans Take to the Streets for 1,000+ 'Workers Over Billionaires' Labor Day Rallies ›
- Bernie Sanders Warns of US Government of, by, and for the 'Billionaire Class' ›
- 500 Richest People Gained Record $2.2 Trillion in 2025, Fueling Calls for Wealth Tax ›
- Global System 'Rigged for the Wealthy' Delivers World With 'More Billionaires Than Ever' ›
Chuck Collins is a senior scholar at the Institute for Policy Studies where he co-edits Inequality.org. His newest book is Burned by Billionaires: How Concentrated Wealth and Power is Ruining Our Lives and Planet (The New Press). His near future novel "Altar to An Erupting Sun” explores one community’s response to climate disruption. He is author of numerous books and reports on inequality and the racial wealth divide, including “The Wealth Hoarders: How Billionaires Spend Millions to Hide Trillions,” “Born on Third Base,” and, with Bill Gates Sr., of “Wealth and Our Commonwealth: Why American Should Tax Accumulated Fortunes.” See more of his writing at www.chuckcollinswrites.com.
The first year of the Trump administration was a very happy new year for the US billionaire class. The richest 15 billionaires, all with assets more than $100 billion, saw their combined wealth surge 33%, from $2.4 trillion to $3.2 trillion. This is double the growth of the S&P 500 over 2025, which was 16.4%.
Over 2025, the combined wealth of all US billionaires climbed to $8.1 trillion, a 21% increase over 2025, up from $6.7 trillion exactly a year ago.
Based on an Institute for Policy Studies analysis of data from the Forbes real time billionaire list from 2025, there are 935 billionaires in the United States with combined wealth totaling $8.1 trillion at the close of 2025 markets. This is an increase from 813 US billionaires at end close of 2024 markets, with combined wealth of $6.7 trillion.
The richest three American wealth dynasties—the Waltons, Mars, and Koch families—saw their wealth accelerate from $657.8 billion to $757 billion in one year.
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
[Note: Bloomberg reported global billionaire wealth increased $2.2 trillion over 2025, in an analysis released several days before the market closed at 4:00 p.m. on December 31, 2025. The market fluctuated considerably in the final days of 2025.]
The top five current billionaires and their individual wealth on January 1, 2026, compared to January 1, 2025:
- Elon Musk of Tesla/X and SpaceX with $726 billion, up from $421 trillion a year ago.
- Larry Page of Google, with $257 billion, up from $156 billion a year ago.
- Larry Ellison of Oracle fame with $245.billion, up from $209 billion a year ago.
- Jeff Bezos of Amazon with $242.billion, up from $233.5 billion a year ago.
- Sergey Brin of Google with $237 billion, up from $148.9 billion a year ago.
The three wealthiest dynastic families in the US hold an estimated $757 billion, up from $657.8 billion at the end of 2024, a 16% gain. These are:
- Walton. Seven members of the Walton Family with combined wealth of $483 billion, up from $404.3 billion a year ago.
- Mars. Six members of Mars family with combined wealth of $120 billion, down from $130.4 billion a year ago.
- Koch. Two members of Koch family have a combined wealth of $154.8 billion, up from $121.1 billion a year ago.
Wealth Gains Since Beginning of Pandemic
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. Less than five years later, at the end of 2025, Musk’s wealth is $726 billion, a dizzying 2,800% increase from before the Covid-19 pandemic.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $242 billion at the end of 2025.
Three Walton family members—Jim, Alice, and Rob, saw their combined assets increase from $161.1 billion on March 18, 2020 to $378 billion at the end of 2025.
From Your Site Articles
- The Billionaires Destroying Our Media System and What To Do About It ›
- Pro-Trump Billionaires Want to Control What You Watch ›
- Americans Take to the Streets for 1,000+ 'Workers Over Billionaires' Labor Day Rallies ›
- Bernie Sanders Warns of US Government of, by, and for the 'Billionaire Class' ›
- 500 Richest People Gained Record $2.2 Trillion in 2025, Fueling Calls for Wealth Tax ›
- Global System 'Rigged for the Wealthy' Delivers World With 'More Billionaires Than Ever' ›
donald trump
elon musk
institute for policy studies
jeff bezos
larry ellison
walton family
billionaires
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.