Race to the Trillion Dollar Club: Elon Musk on Track to Become World’s First Trillionaire by 2027

Elon Musk, the CEO of Tesla and SpaceX, is on course to become the world’s first trillionaire by 2027 if his wealth continues to grow at the same rate, according to research conducted by Informa Connect Academy.

The study reveals that Musk’s fortune is expanding at an average annual rate of 110%. Currently, Musk holds the title of the world’s richest man, with a net worth of $251 billion.

The 2024 Trillion Dollar Club report also predicts that Indian business magnate Gautam Adani could follow closely behind Musk, potentially becoming a trillionaire by 2028. Adani, the founder of the Adani Group, has a fortune growing at a faster annual rate of 123%.

Additionally, the report names two other individuals who could achieve trillionaire status by 2028 if their wealth continues to grow at the current pace: Jensen Huang, CEO of technology company Nvidia, and Prajogo Pangestu, an Indonesian tycoon in the energy and mining sector.

Bernard Arnault, the head of the luxury conglomerate LVMH Moët Hennessy Louis Vuitton, and currently the world’s third-richest individual with a fortune of around $200 billion, is projected to become a trillionaire by 2030. That same year, Meta CEO Mark Zuckerberg is also predicted to reach the trillion-dollar milestone.

While the race to become the world’s first trillionaire continues, several companies have already surpassed the $1 trillion valuation mark. Berkshire Hathaway hit the trillion-dollar benchmark in late August 2023, just before Warren Buffett, the company’s founder, celebrated his 94th birthday. Nvidia entered the trillion-dollar club in May 2023 and quickly surged to a $3 trillion valuation by June, positioning itself as the second most valuable company globally, trailing only Microsoft and surpassing Apple.

The fascination with who might become the world’s first trillionaire has persisted ever since the world saw its first billionaire in 1916, when John D. Rockefeller, the founder of oil giant Standard Oil, reached that historic milestone.

By fLEXI tEAM