The CEO of Tesla, SpaceX, and X (formerly Twitter), Elon Musk is reportedly set to become the world’s first trillionaire in 2027. According to the Informa Connect Academy’s 2024 Trillion Dollar Club report, his wealth has been growing at 110% per annum, with a net worth of $251 billion according to the Bloomberg Billionaires Index. The report also attributes this surge in wealth to the immense success that his varied businesses have seen: ranging from electric cars to private space exploration and social media platforms.
Whether you are interested in Musk’s rise to trillionaire status, you may also consider Gautam Adani, the founder of India’s Adani Group. He could become a trillionaire in 2028 if his wealth continues to grow at 123% Musk is followed by other business titans such as Jensen Huang (Nvidia CEO) and Indonesian energy and mining tycoon Prajogo Pangestu in reaching a trillionaire status by 2028.
Meanwhile, Bernard Arnault, head of LVMH Moët Hennessy Louis Vuitton and currently the world’s third-richest person with a net worth of $200 billion, could hit the trillion-dollar mark by 2030, along with Meta CEO Mark Zuckerberg.
These projections come at a time when corporations like Nvidia and Berkshire Hathaway have achieved valuations in the trillions, following in the footsteps of giants like Microsoft and Apple.
Notwithstanding the attraction with enormous riches, some have expressed worries about the effects it will have on society. Research suggests that the richest 1% of people contribute a disproportionate amount to carbon emissions, which exacerbates the climate emergency. Musk, who is well-known for his divisive social media persona, recently encountered criticism for supporting an interview on X that provoked indignation from the public and was denounced by the White House.
As Musk continues to push technological boundaries, the debate around extreme wealth accumulation and its consequences remains at the forefront of public discourse.