The Chief Executive Officer of Tesla, SpaceX, and X (formerly Twitter), Elon Musk, is set to become the world’s first trillionaire by 2027, according to a new report by Informa Connect Academy.
His rapid accumulation of wealth, fueled by an annual growth rate of 110%, has propelled him to the top of the global wealth rankings.
The academy’s analysis suggests that Gautam Adani, a prominent Indian business magnate, is the next most likely individual after Elon Musk to achieve trillionaire status. CEO of Nvidia, Jensen Huang, and Indonesian mining mogul Prajogo Pangestu are also on track to join this exclusive club by 2028.
The 53-year-old tech mogul is already the richest person in the world with a net worth of $251 billion.
The Informa Connect Academy’s 2024 Trillion Dollar Club report predicts that Musk’s electric car company, Tesla, will surpass a market value of $1 trillion by next year.
While a handful of companies have already surpassed the $1 trillion valuation, including Berkshire Hathaway, Nvidia, and Microsoft, Musk’s exceptional wealth growth places him in a unique position.
The quest for the world’s first trillionaire has captivated the public since the emergence of John D. Rockefeller in 1916. However, the concentration of immense wealth raises concerns among academics, who argue that it contributes to social inequality and environmental challenges.
Musk’s recent promotion of a controversial interview on X has further fueled discussions about the impact of his influence and wealth. As he continues to amass wealth at an unprecedented rate, the question of whether he will become the world’s first trillionaire remains a subject of intense speculation and debate.
