The 2025 AI Billionaire Boom: Why Infrastructure Owners, Not Model Builders, Made Fortunes

50+ new billionaires minted from AI in 2025. Zero came from building better foundation models. The fortunes went to data labeling ($18B), GPU rental ($6B), and talent marketplaces ($2.2B each for three 22-year-olds). While everyone chased Chat GPT competitors, the real money solved bottlenecks nobody discussed.