The year 2025 was a rollercoaster for the world's billionaires!
While some amassed sky-high fortunes, others ended up among the billionaire losers of 2025.
Around one-quarter of the world's billionaires saw their wealth decline during the year and 85 people who were billionaires at the end of 2024 are no longer billionaires.
This comes mainly due to economic challenges like tariffs, inflation, higher interest rates and disruptive AI.
Losses occurred across many industries, with manufacturing having the most (101), followed by tech (89) and fashion & retail (77).
These billionaires come from 51 countries with the US (186) having the most, followed by India (109) and China (91).
Hermès Heir Nicolas Puech
Nicolas Puech, a fifth-generation heir of Hermès in France has lost the most wealth among billionaires in 2025. He claims that his Hermès shares were sold without permission to Bernard Arnault and LVMH, though they deny it.
Because of this loss, Forbes has removed him from the billionaires list whose net worth was about $14.8 billion at the end of 2024.
Gary Friedman
The CEO of Restoration Hardware, Gary Friedman was one of 2025’s biggest losers among billionaires, losing about $1.2 billion in 2025 and leaving him with around $850 million as the company's stock fell 55% mainly due to Trump's tariffs.
Willis Johnson
Willis Johnson, who built his wealth from damaged cars through his company Copart in Dallas has a net worth of $2.3 billion, down $1 billion in 2025.
E. Joe Shoen and Mark Shoen
E. Joe Shoen and Mark Shoen, both heirs of U-Haul in the US have seen significant drops in their wealth.
Mark has a net worth of $3.9 billion which is $1.2 billion less than before while E.Joe has worth $3.3 billion (down $1.1 billion).
Andrew Bialecki
Andrew Bialecki, cofounder of the marketing software company Klaviyo in the United States, has a net worth of $2.9 billion, down $1.2 billion.
