Elon Musk to Jeff Bezos, Which Billionaires have lost most money in 2025? List explored

Billionaires such as Elon Musk and Jeff Bezos have seen a significant dip in their net worth in the last few weeks.

As per the Bloomberg Billionaires Index, CEO of Tesla, the world's richest person, Elon Musk, has lost around $132 billion. Similarly, the world’s second richest person, Jeff Bezos, lost $22.5 billion.

According to Business Standard, Elon Musk lost his wealth due to his involvement with the government’s DOGE program, which saw a decrease of Elon Musk’s Tesla’s sales by over 70% in Germany. The report also highlighted the enormous decrease of Elon Musk’s company’s consignments from China.

Experts cannot exactly pinpoint a single reason for the current dip in the wealth of the world’s richest people, which includes 12 out of the top twenty richest people who have lost their wealth amounting to billions of dollars. However, it was reported that DeepSeek, an Artificial Intelligence company, had a disruptive effect on the market.

With the rapid developments and changes within the Artificial Intelligence industry, stocks of technology companies can be expected to remain unstable. Nasdaq, which contains a significant number of technology companies, had also experienced a dip of 3% on its index rating right after the launch of DeepSeek. The disruption caused by the launch of DeepSeek also happened to be the biggest single-day loss in the history of U.S. markets.

DeepSeek was influential in making the market volatile. Reportedly, the primary reason for this has been because of the launch of the language and reasoning model by DeepSeek, which was built at a far lesser cost than any of its competitors in the U.S.

This had caused a dent in the investor sentiment, particularly for those who had invested heavily in technology stocks, and in particular, in stocks of companies working with Artificial intelligence. The cheaper model created by DeepSeek was not only a factor that led to a reduction in the market valuation of Artificial Intelligence companies, but it importantly impacted the market valuation of chipmaking companies.

The launch of DeepSeek revealed both the volatility of the market and the impact innovation has on direct and indirect competitors. The fact that the new Artificial Intelligence model uses far fewer numbers of semiconductor chips made investors draw out money from semiconductor chip-making companies. A prominent semiconductor chipmaking company lost $600 billion from its market capitalization.

Apart from the launch of DeepSeek, which caused a serious period of unpredictability in the market, the uncertainty around policy changes that could be brought about by the Trump administration has not worked well for investor sentiment. This has been seen in the drop in market investment.

Although the Trump presidential campaign promised tax cuts for companies as well as promoting an environment of deregulation—an environment most conducive for investment and for businesses to rise and flourish—the uncertainty around the tariff regime against companies and products of countries that levy heavy taxes on U.S. products has created instability in the market.

Some experts feel that the tariff war could backfire. Apart from increasing prices of products for U.S. consumers, the uncertainty in the market could have a strong impact on the processes of wealth production and further trigger a fear of recession, a phenomenon that some experts have already started to talk about.

Newsweek reported on President Trump’s response to the question of tariffs. He was quoted as saying in Congress,

“Tariffs are about making America rich again and making America great again. And it's happening. And it will happen rather quickly. There'll be a little disturbance, but we're OK with that. It won't be much.”

Which billionaires other than Elon Musk and Jeff Bezos have lost money?

Elon Musk and Jeff Bezos are not the only billionaires who have lost a huge part of their fortune. Apart from them, Larry Page, the co-founder of Google, lost 17.8 billion in 2025, as reported by The Newsweek.

The same report mentions that Michael Dell, the founder and CEO of Dell Computers, also lost 20 billion dollars this year. Oracle's Larry Ellison, Nvidia's Jensen Huang, and Google's co-founder Sergey Brin were among those who lost a significant portion of their wealth.

Responding to the trend of sell-offs in the stock market and whether there will be an economic recession, President Trump said,

“I think this country's going to boom. But as I said, I can do it the easy way or the hard way. The hard way to do it is exactly what I'm doing, but the results are going to be 20 times greater. Remember, Trump is always right.”

On a similar note, Elon Musk wrote on X,

"It will be fine long-term"

The same day, Musk had lost a whopping $29 billion.

Only time will tell whether Elon Musk and President Trump are right or wrong, but what is important to note here is that the market had responded positively, and investments in the stock market had risen significantly back in November 2024 when President Trump had won the presidential race.