Elon Musk is heading towards becoming the world’s first trillionaire by 2027, according to a new global wealth report.
Musk, 53, is currently the world’s richest person with a net worth of $251billion, according to Bloomberg’s Billionaires Index.
However, a new report by Informa Connect Academy has revealed Musk’s wealth has been growing at a staggering average rate of 110 per cent a year.
This means that if the Tesla CEO’s wealth continues to climb at the same rate – he could be crowned the world’s first trillionaire within the next three years, according to the findings.
The report – titled the 2024 Trillion Dollar Club – puts Musk’s Tesla business at a market value of $669.3billion.
The company’s growth rate is also impressively high, at 173.3 per cent according to Informa Connect Academy, which means Tesla alone could exceed $1trillion by as early as next year.
The academy’s analysis suggested business conglomerate founder Guatam Adani from India would be second in line to achieve trillionaire status.
That would reportedly happen the year following Musk, in 2028, if his annual growth remains at 123 per cent.
Jensen Huang, chief executive of tech firm Nvidia, and Indonesian energy and mining mogul Prajogo Pangetsu are also predicted to become trillionaires by 2028, according to the findings.
Bernard Arnault, the LVMH Moet Hennessy Louis Vuitton boss and the world’s third-richest person with around $200billion, is on track to snap a trillion dollars in 2030 – the same year as Meta CEO Mark Zuckerberg.
The top two richest companies valued by the growth report were Microsoft at $3.4trillion and Apple at $2.5trillion.
Both of the tech giants hit the trillion-dollar mark back in 2019 and 2018 respectively.
A number of companies have secured predictions of over $1trillion with Taiwan-based TSMC most recently being crowned top place.
Nvidia joined the Trillion Dollar Club in May last year and in June hit $3trillion, positioning it at the time after Microsoft and before Apple as the world’s second-most-valuable company.
The world crowned its first billionaire, Standard Oil founder JD Rockefeller, in 1916.
Just days before Informa Connect Academy crowned Musk as the most likely to become the world’s first trillionaire, the businessman said astronauts could land on Mars within four years as NASA faces pressure over its delayed plans to land on the moon.
Musk’s SpaceX is set to launch its first uncrewed Starships to the Red Planet in two years when the next Earth-Mars transfer window opens- to test the reliability of landing intact on Mars.
If the tests prove unsuccessful, SpaceX, which Musk founded in 2022, will launch crewed flights to Mars in four years.
Musk’s other businesses include neurotechnology firm Neuralink, and The Boring Company – a tunnel construction company.
He also brought Twitter for around $44billion in late-2022 before controversially rebranding it X and most recently the multi-billionaire faced a feud with Brazil’ Supreme Court which saw the platform banned in the country.
Supreme Court judge Alexandre de Moraes initiated the nationwide shutdown at the beginning of the month after Musk refused to name a legal representative to the country, missing a deadline imposed by Moraes.
Moraes, 55, and Musk have been embroiled in a months-long feud over free speech, far-right accounts, and misinformation – with the new ban becoming the result of the escalating tensions.
Internet service providers across the nation, which is home to 215million people and was one of X’s largest markets, completely blocked the platform on August 31 and the country’s main news sites stopped posting at the same time.
A furious Musk took to X following the ban, saying: ‘The tyrant de Voldemort is crushing the people’s right to free speech,’ likening de Moraes to the evil wizard in the Harry Potter series.
Moraes said X will stay suspended until it complies with his orders, and also set a daily fine of £6,790 for people or companies using virtual private networks (VPNs) to access it.
