Tom Bombadil was around when the elves were passing west to Valinor. Which is fine, he’s a Maia and he’s old but like, did the elves stop and say hi? Did they ask Manwë who the heck that guy was? Was he wearing his blue jacket and yellow boots back then?
This could very much be up for debate. Are we sure Tom is a Maia?
Races that Tom Bombadil Could Be:
Man: no, put on One Ring, didn’t disappear. Too old.
Elf: no, states that he was around when elves went west, so clearly not an elf. says he remembers the creation of trees, so older than elf/man/dwarf.
Dwarf: no, too old/tall/put on One Ring, etc.
Valar: possibly, but we get a list of all of the Valar and he’s not one of them
Maiar: yes – old enough, powerful enough, magical enough. Only real possibility.
Illuvitar: a theory that I like, but basically just speculation, no proof.
Except that Gandalf himself, who is a Maia, refuses to touch the Ring because he knows he could be corrupted. Saruman is corrupted by the Ring, although he didn’t see or touch it. In other words: Maiar are affected by the Ring. Tom Bombadil isn’t affected by it, in any way.
It’s an endless debate though, and it has been discussed so many times. I don’t think we would ever have an answer 😉