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Musk set to become world’s first trillionaire – report

The SpaceX and Tesla CEO is already the richest man with an estimated wealth of $237 billion

Elon Musk at the Academy Museum of Motion Pictures on April 13, 2024, in Los Angeles, California © Taylor Hill/Getty Images

Elon Musk at the Academy Museum of Motion Pictures on April 13, 2024, in Los Angeles, California © Taylor Hill/Getty Images

Tech entrepreneur Elon Musk is on track to become the world’s first trillionaire by 2027, according to an estimate by the global education company Informa Connect Academy.

The projection published on Friday is based on Musk’s average annual wealth growth rate which stands at 109.88%.

The owner of X (formerly Twitter) is the richest man in the world with a fortune of $237 billion, according to the Bloomberg Billionaires Index.

Musk has co-founded six companies, including electric car maker Tesla and spacecraft manufacturer SpaceX. Tesla, which has a market capitalization of $669.28 billion, is expected to hit the trillion dollar mark next year. Musk acquired Twitter in 2022, renaming the platform X and promising more fairness and transparency.

Other multi-billionaires who are likely to join the Trillionaires Club in the near future are India’s richest man Gautam Adani, Nvidia CEO Jensen Huang, and Indonesian magnate Prajogo Pangestu. All three are expected to become trillionaires by 2028, Informa Connect Academy said. French businessman Bernard Arnault, the chairman of the world’s largest luxury conglomerate LVMH, is likely to become a trillionaire by 2030.

Musk first appeared on the Forbes Billionaire list in 2012 with a net worth of $2 billion. In 2021, he became the world’s wealthiest man, displacing Amazon founder Jeff Bezos. Musk lost this status in December 2022 to Arnault when Tesla stock tumbled, but topped the list once again six months later.

Author: Editors Desk

Source: RT

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