Elon Musk is on track to become the world’s first trillionaire by 2027, according to a new report from Informa Connect Academy, a group that tracks the fortunes of the richest people.
Elon Musk could become the first trillionaire in the world by 2027 PHOTO Archive
According to the report, Musk’s wealth grew at an average annual rate of 110%. He was also the world’s richest person, with $251 billion, according to the Bloomberg Billionaires Index, when the academy’s Trillion Dollar Club report began circulating on Friday, The Guardian reports.
The analysis suggests that the founder of India’s Gautam Adani business conglomerate would become the second to reach trillionaire status. That would happen, according to the report, in 2028 if its annual growth rate remains at 123 percent.
The richest people have ever-increasing fortunes
Jensen Huang, the chief executive of technology firm Nvidia, and Prajogo Pangestu, the Indonesian energy and mining mogul, could also become trillionaires in 2028 if their trajectories hold.
Bernard Arnault, head of LVMH Moët Hennessy Louis Vuitton and the world’s third-richest person with an estimated $200 billion, is on track to surpass $1 trillion in 2030 — the same year Meta CEO Mark Zuckerberg would could do the same.
Several companies have reached valuations in excess of $1 trillion. Berkshire Hathaway recently surpassed that valuation in late August, days after its architect Warren Buffett celebrated his 94th birthday. Nvidia entered the $1 trillion club in May 2023 and in June hit $3 trillion, placing it behind Microsoft and ahead of Apple as the second most valuable company in the world.
Danger to society
Many academics consider the accumulation of immense wealth to be a social evil. A report calculated that the world’s richest 1% contribute to more carbon emissions – a major driver of the ongoing climate crisis – than the poorest 66%
Just days before Informa Connect Academy named Musk as the most likely to become the world’s first trillionaire, one of his posts on X earned him criticism from many of the site’s users.
His post said an interview between former Fox News host Tucker Carlson and podcaster Darryl Cooper — a right-wing media figure — was “very interesting. It’s worth watching.”
Cooper stated in the interview that the Nazis did not intend to kill so many people when they carried out the Holocaust and killed 6 million Jews during World War II. Instead, Cooper noted, Adolf Hitler’s Nazi regime simply wasn’t equipped to deal with them — and the podcaster blamed British Prime Minister Winston Churchill for “this war that became what it was.”
Musk eventually deleted his post, and the White House condemned Carlson’s interview with Cooper as “a disgusting and sadistic insult to all Americans.”
The billionaire announced in August that he is supporting Donald Trump as the Republican candidate seeking a second presidential term in the November election. Kamala Harris, the Democratic vice president, is also in the running.
