Elon Musk is on track to become the world's first trillionaire, with other billionaires like Gautam Adani and Jensen Huang potentially following.
Elon Musk who is the CEO of Tesla, SpaceX, and social media platform X (formerly known as Twitter), is on track to become the world's first trillionaire by 2027, according to a recent report by Informa Connect Academy, a group that monitors global wealth. Musk's fortune has been growing at an extraordinary rate, with an average annual increase of 110%. As of now, Musk holds the title of the world's richest person, with a net worth of $251 billion, as reported by the Bloomberg Billionaires Index.
The academy's report also predicts that Musk could be followed by Gautam Adani, an Indian business magnate, who is expected to reach trillionaire status by 2028 if his wealth continues to grow at its current rate of 123% annually. Other potential trillionaires include Jensen Huang, CEO of Nvidia, and Prajogo Pangestu, an Indonesian energy and mining mogul, who could also reach this financial milestone by 2028. Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton and the world's third-richest person with about $200 billion, might join the trillionaire club by 2030, alongside Meta's CEO, Mark Zuckerberg.
A few companies have already achieved trillion-dollar valuations. Most recently, Berkshire Hathaway crossed this threshold in August 2023, just before its founder Warren Buffett turned 94. Nvidia joined the $1 trillion club in May 2023, and in June, it briefly reached a valuation of $3 trillion, placing it between Microsoft and Apple as one of the world's most valuable companies.
The idea of who might become the world's first trillionaire has intrigued people ever since John D. Rockefeller, founder of Standard Oil, became the first billionaire in 1916. However, the accumulation of vast wealth has also raised concerns. Some studies indicate that the richest 1% of the population contributes more to carbon emissions—a key factor in the climate crisis—than the poorest 66%.
Recently, Musk faced backlash after commenting on an interview involving right-wing media figures Tucker Carlson and Darryl Cooper. In the interview, Cooper made controversial claims about the Holocaust, which many found offensive. Musk initially shared the interview on his platform, X, calling it "very interesting," but later deleted the post after receiving criticism. The White House condemned the interview as an "insult to all Americans."
Musk also announced in August that he supports Donald Trump's bid for a second term as president in the upcoming election. The Democratic vice-president, Kamala Harris, is also running in the election.
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