Elon Musk is on track to become the world’s first trillionaire by 2027, according to a new report from Informa Connect Academy. The 53-year-old billionaire is currently the richest person globally, with a net worth of $251 billion, as per Bloomberg’s Billionaires Index.
The Informa Connect Academy’s report, titled “The 2024 Trillion Dollar Club,” highlights Musk’s staggering wealth growth. Musk’s net worth has been increasing at an average rate of 110% annually. If this growth rate continues, he could reach a trillion-dollar net worth within the next three years.
The report reveals that Musk’s Tesla business, which is a major contributor to his wealth, is valued at $669.3 billion. Tesla’s growth rate stands at an impressive 173.3%, suggesting that the company could exceed $1 trillion in value as early as next year.
The analysis also predicts that Gautam Adani, an Indian business conglomerate founder, could become the second trillionaire. Adani is projected to achieve this milestone in 2028 if his wealth continues to grow at an annual rate of 123%.
Additionally, Jensen Huang, CEO of the tech firm Nvidia, and Prajogo Pangestu, an Indonesian energy and mining mogul, are also expected to reach trillionaire status by 2028, according to the report.
Bernard Arnault, the chairman and CEO of LVMH Moët Hennessy Louis Vuitton, currently the world’s third-richest person with approximately $200 billion, is projected to become a trillionaire in 2030. He is expected to share this milestone with Mark Zuckerberg, CEO of Meta.
The report also notes that a few companies have already surpassed the $1 trillion valuation mark. Microsoft and Apple are among the top two, with valuations of $3.4 trillion and $2.5 trillion, respectively. Nvidia joined the trillion-dollar club in May 2023 and briefly hit a $3 trillion valuation before Berkshire Hathaway achieved it in late August.
The quest to identify the world’s first trillionaire has intrigued people since John D. Rockefeller became the world’s first billionaire in 1916. Rockefeller, the founder of Standard Oil, was the wealthiest person of his time.
Despite the fascination with immense wealth, many academics and commentators view such concentrated wealth as a social issue. A recent report highlights that the richest 1% of people contribute more carbon emissions—significantly impacting the climate—than the poorest 66% of the global population.
Recently, Musk’s social media activity has also drawn attention. A post he made on X (formerly Twitter) praising an interview by Tucker Carlson, which contained controversial remarks about the Holocaust, faced significant backlash. Musk eventually deleted the post after criticism, including condemnation from the White House.
In August, Musk announced his support for Donald Trump in the upcoming U.S. presidential election. This move aligns with Musk’s recent political statements and positions, adding another layer of public scrutiny to his activities.
The Informa Connect Academy report offers a snapshot of the rapidly changing landscape of global wealth, with Musk leading the charge toward unprecedented financial milestones.
