The world’s richest people saw their wealth increase more than ever in 2025, but a funny thing happened along the way. Many of them seemed to decide that their best prospects for the future don’t lie on the western side of the Atlantic, even though the exceptional performance of U.S. equity markets is driving much of these gains. A growing share of the ultra-elite are quietly voting with their feet against the idea that the American Dream is still worth pursuing in America.
The 500 richest individuals on the planet added a record $2.2 trillion to their fortunes this year, Bloomberg’s Dylan Sloan reported, lifting their combined net worth to about $11.9 trillion. Big Tech led the charge, with a euphoria over the prospects of artificial intelligence growing so large that the Magnificent Seven decoupled in many respects from the other 493 companies in the S&P 500. Indeed, Sloan reported that roughly a quarter of all the gains recorded by Bloomberg’s wealth index came from just eight individuals.
