Thirty-five Turkish citizens on Forbes list highlight inequality
The world’s wealthiest are now richer and more powerful than ever. According to Forbes’ newly released World’s Billionaires List, the number of billionaires globally surpassed 3,000 for the first time in 2025.
An additional 247 individuals joined the list compared to 2024, bringing the total to 3,028. In 2017, the number stood at just 2,000.
Billionaire fortunes appear unaffected by global crises and even grew during the COVID-19 pandemic. Forbes described the phenomenon by stating, “The billionaire club has never been this big.”
According to the report, these 3,028 individuals collectively hold $16.1 trillion in wealth — an amount that surpasses the gross domestic product of every country except the US and China. In other words, the total wealth of these billionaires exceeds the combined economies of Germany, Japan, the United Kingdom, and Turkey.
The average net worth per billionaire rose to $5.3 billion. Meanwhile, the number of individuals with fortunes exceeding $100 billion — known as "centibillionaires" — climbed to 15. Together, their combined wealth of $2.4 trillion exceeds that of the bottom 1,500 billionaires on the list.
The list also noted that with Donald Trump returning to the US presidency, the country's administration is now in the hands of billionaires. At least 10 members of the cabinet are billionaires.
Elon Musk reclaimed the top spot as the world’s richest individual, with an estimated fortune of $342 billion.
He is followed by Mark Zuckerberg with $216 billion, Jeff Bezos with $215 billion, and Larry Ellison with $192 billion.
French businessman Bernard Arnault, who topped the list last year, dropped to fifth place with $178 billion due to a decline in LVMH shares.
Billionaires in 76 countries
The United States remains home to more billionaires than any other country, with 902 citizens on the list this year. China, including Hong Kong, follows with 516, and India ranks third with 205 billionaires. Over half of those on the list are citizens of one of these three countries. In total, 76 countries and two semi-autonomous regions are represented with at least one billionaire.
About 67 percent of the individuals on the list are self-made, while the remaining 33 percent inherited their fortunes.
Women billionaires
Women account for only 406 of the total, or about 13.4 percent. Most of them inherited their wealth. The world’s richest woman is Walmart heiress Alice Walton, with $101 billion.
She is followed by Francoise Bettencourt Meyers, heir to the French cosmetics giant L’Oréal, with $81.6 billion.
Only 113 women billionaires are self-made. The wealthiest among them is Swiss shipping magnate Rafaela Aponte-Diamant, with $37.7 billion.
Turkey
The Forbes list includes 35 individuals from Turkey, with a combined wealth of $79.5 billion. The record year for Turkish billionaires was 2023, when 44 individuals were listed with a total net worth of $75.3 billion.
The majority of Turkish billionaires still derive their wealth from traditional sectors such as food, retail, industry, energy, and real estate. So far, there are no Turkish entrants on the list whose fortunes stem from technology, software, or fintech.
According to the list, Cemil Kazancı, Chair of the Board of Kazancı Holding, recorded the highest increase in wealth among Turkish billionaires, with a gain of $800 million. Selçuk and Haluk Bayraktar, major shareholders of the defense company Baykar, who were first listed last year, saw their combined wealth increase by $1.1 billion.
According to Forbes, those who made the list from Turkey and their wealth are as follows:
Murat Ülker (The world's 639th richest person): 5.5 billion dollars
Şaban Cemil Kazancı (639th): 4.3 billion dollars
Uğur Şahin (846th): 4.3 billion dollars
Eren Özmen (942nd): 4 billion dollars
Fatih Özmen (948th): 3.8 billion dollars
İpek Kıraç (1141st): 3.2 billion dollars
Semahat Arsel (1172nd): 3.1 billion dollars
Erman Ilıcak (1172nd): 3.1 billion dollars
Mustafa Rahmi Koç (1305th): 2.8 billion dollars
Ferit Şahenk (1305th): 2.8 billion dollars
Filiz Şahenk (1408th): 2.6 billion dollars
Feridun Geçgel (1462nd): 2.5 billion dollars
Mehmet and Sinan Tara (1462nd): 2.5 billion dollars
Hamdi Ulukaya (1573rd): 2.3 billion dollars
İbrahim Erdemoğlu (1688th): 2.1 billion dollars
Ali Metin Kazancı (1763rd): 2 billion dollars
Mustafa Küçük (1763rd): 2 billion dollars
Sezai Bacaksız (1850th): 1.9 billion dollars
Şefik Yılmaz Dizdar (1850th): 1.9 billion dollars
Nihat Özdemir (1850th): 1.9 billion dollars
Selçuk Bayraktar (1947th): 1.8 billion dollars
Ali Erdemoğlu (1947th): 1.8 billion dollars
Hamdi Akın and family (2019th): 1.7 billion dollars
Haluk Bayraktar (2110th): 1.6 billion dollars
Ahmet Çalık (2233rd): 1.5 billion dollars
Deniz Şahenk (2233rd): 1.5 billion dollars
Mehmet Aydınlar (2356th): 1.4 billion dollars
Türker Kazım (2356th): 1.4 billion dollars
Bülent Eczacıbaşı (2479th): 1.3 billion dollars
Aydın Doğan (2623rd): 1.2 billion dollars
Mustafa Latif Topbaş (2623rd): 1.2 billion dollars
Hüsnü Özyeğin (2789th): 1.15 billion dollars
Faruk Eczacıbaşı (2790th): 1.1 billion dollars
Ahmed Topbaş (2790th): 1.1 billion dollars
Murat Vargı (2790th): 1.1 billion dollars
The scale of inequality
The wealth of the world’s billionaires reveals a stark contrast when compared to the global economy. The 3,028 individuals on the list represent just 0.00004 percent of the global population.
In 2024, global GDP was estimated at around $105 trillion. That figure is expected to rise to approximately $110 trillion in 2025. The total wealth of the billionaires now accounts for 14.6 percent of global GDP.
This means that the combined wealth of 3,028 people equals about one-seventh of all goods and services produced by the world’s 8 billion people in a year.
On average, each billionaire holds $5.3 billion — equivalent to the annual income of roughly 400,000 people.
The world’s poorest 20 percent, approximately 1.6 billion people, live on less than $2.15 a day. Collectively, the 3,028 billionaires hold 54 times more wealth than this bottom fifth of the population.
Half of the world’s population — the bottom 50 percent — owns just 1 percent of global wealth.
Inequality in Turkey
In Turkey, the 35 individuals with a combined wealth of $79.5 billion each hold an average of $2.27 billion. This means a single billionaire in Turkey possesses wealth equivalent to that of roughly 113,000 people.
In 2024, Turkey’s GDP was estimated at around $1.1 trillion (43.4 trillion Turkish lira). The per capita GDP, at current prices, is thought to be around $15,000.
The total wealth of Turkey’s 35 billionaires equals 7.2 percent of the country's annual GDP.
Meanwhile, the poorest 50 percent of the population in Turkey — approximately 42.5 million people — receives less than 3 percent of the country’s GDP. Their combined wealth is estimated to be under $30 billion. In contrast, the 35 billionaires possess nearly three times that amount.
Additionally, Turkey ranks first in income inequality among European countries, based on the Gini coefficient. Globally, it ranks 28th out of 130 countries. (HA/VK)