Elon Musk is projected to become the world’s first trillionaire by 2027, according to a new global wealth report by Informa Connect Academy. The 53-year-old entrepreneur, currently the world’s richest person with a net worth of $251 billion as per Bloomberg’s Billionaires Index, has seen his wealth grow at an average rate of 110% annually.
The report, titled “2024 Trillion Dollar Club,” estimates that if Musk’s wealth continues to grow at its current rate, he could reach the trillionaire mark within the next three years. His electric car company Tesla, valued at $669.3 billion, is growing at an even more rapid pace of 173.3% per year and could exceed $1 trillion in value by 2025.
Other potential trillionaires identified in the report include Indian business conglomerate founder Gautam Adani, who could reach the milestone by 2028 with an annual growth rate of 123%. Jensen Huang, CEO of tech firm Nvidia, and Indonesian energy and mining mogul Prajogo Pangestu are also predicted to join the trillionaire club by 2028.
Musk’s wealth is derived from various ventures beyond Tesla, including spacecraft manufacturer SpaceX, neurotechnology firm Neuralink, and tunnel construction company The Boring Company.
His 2022 acquisition of Twitter, now rebranded as X, for $44 billion has been marked by controversy. Recent incidents include Musk apologizing for endorsing an antisemitic conspiracy theory and feuding with Brazil’s Supreme Court, resulting in X being banned in the country.
Musk has also been involved in political discussions, interviewing former President Donald Trump on X and commenting on right-wing media figures’ content. These actions have drawn criticism from various quarters, including the White House.
The report highlights the growing concentration of wealth among tech industry leaders, with Microsoft ($3.4 trillion) and Apple ($3.3 trillion) listed as the top two richest companies.
