Elon Musk on track to be the first trillionaire by 2027, according to report

Musk, 53, is currently the richest person in the world, with a net worth of $251bn (£191bn), according to Bloomberg’s Billionaires Index.

Elon Musk is on track to become the world’s first trillionaire by 2027, according to a new global wealth report.

Musk, 53, is currently the richest person in the world, with a net worth of $251bn (£191bn), according to Bloomberg’s Billionaires Index.

However, according to Informa Connect Academy’s findings, his wealth has been growing at an average rate of 110% a year.

It means that – providing his wealth continues to grow at the same rate – he could reach the trillionaire mark within the next three years, according to the findings.

The same report – the 2024 Trillion Dollar Club – puts Musk’s electric car business Tesla at a market value of $669.3bn (£509.7bn).

Unsurprisingly, the top two richest companies valued by the growth report were Microsoft ($3.4tn or £2.6tn) and Apple ($3.3tn or £2.5tn).

The two tech giants reached the trillion-dollar mark in 2019 and 2018 respectively.

Informa Connect Academy estimated Indian business conglomerate founder Gautam Adani as being the second closest to becoming a trillionaire.

With an annual growth rate of 123%, he is said to reach the milestone by 2028.

Jensen Huang, chief executive of tech firm Nvidia, and Indonesian energy and mining mogul Prajogo Pangestu are also predicted to become trillionaires by 2028, according to their current trajectories.

Repeated controversies

Musk’s other businesses include spacecraft manufacturer SpaceX, neurotechnology firm Neuralink, and The Boring Company – formerly a subsidiary of SpaceX but now its own tunnel construction company.

Since the multi-billionaire bought Twitter for around $44bn (£33.5bn) in late-2022, soon rebranding it X, he has repeatedly caused controversy, including apologising for endorsing an antisemitic conspiracy theory and telling advertisers who had left the platform to “f**k off”.

Most recently, a feud with Brazil’s Supreme Court has seen X banned in the country.

He also interviewed former President Donald Trump live on the platform after declaring his support for his bid for re-election.

Source: https://news.sky.com/story/elon-musk-on-track-to-be-the-first-trillionaire-by-2027-according-to-report-13211518