The global billionaire population reached a record 3,795 in 2025, up 8.2%, while combined billionaire wealth rose 12.8% to an all-time high of $15.1 trillion, according to wealth intelligence firm Altrata. The total was close to one-quarter of the combined market capitalization of S&P 500 constituents. Average billionaire wealth reached $4 billion, although the median net worth was close to $2 billion, underscoring the concentration of wealth among a small group of so-called super-billionaires. North America led regional growth with an 11.6% increase to 1,337 billionaires, followed by Europe with nearly 8% growth to 1,081 and Asia with 6.5% growth to 881. The report identified the stock-market rally, monetary stimulus and the artificial-intelligence investment boom as major drivers. AI investment has been an important source of billionaire wealth creation since 2023, with its influence becoming more pronounced in 2025 and the first half of 2026. Capital flowing into generative AI, large language models, cloud computing and AI software helped revalue technology companies, benefiting founders and major shareholders whose wealth is concentrated in corporate equity. The report also found that 29 billionaires hold assets exceeding $50 billion, including Larry Page, Elon Musk and Jeff Bezos. Sports and philanthropy attracted the strongest billionaire interest, with 201 individuals owning sports teams or investing in sports franchises.