SpaceX and Tesla CEO Elon Musk, the richest man alive, is poised to become the world's first trillionaire six years earlier than Amazon founder Jeff Bezos, whose net worth is currently at $188 billion.
If everything goes smoothly, current situations could see Musk become the first to reach a valuation of $1 trillion by 2024. The billionaire entrepreneur recently made headlines after his aggressive $44 billion takeover of social media platform Twitter.
The Trillion Dollar Club
Forbes estimated, as of June 14, that the maverick business tycoon's real-time net worth was already at $203.3 billion. His wealth already puts him way ahead of the man poised to be the second trillionaire, Bernard Arnault & family, whose net worth stood at $140.2 billion.
The forecast was made in a report titled "The Trillion Dollar Club" and speculates that Musk will become a trillionaire in the next two years. It was published by Tripalti Approve, a firm that "enables finance and procurement teams to gain visibility and control over spending."
The report includes 21 names that, according to the firm, have a realistic chance of becoming a trillionaire during their lifetimes. The firm made its predictions by comparing the annual net worths of the world's 30 richest people from 2017 to 2022 to calculate the year-on-year annual growth rate for each individual, as per Lifestyle Asia.
Tripalti Approve, for calculation's sake, predicted the future net worth of each of the 21 billionaires by keeping the January 2022 net worth as the base. The report says that since 2017. Musk's wealth has shown an annual average increase of 129%, which could potentially boost him into the trillion-dollar club in just two years.
The report noted that the majority of Musk's fortune came from Tesla and SpaceX, as the two companies helped the billionaire's wealth rise from $25 billion in 2020 to $263 billion in 2022. Musk is followed by international billionaires that were estimated to reach trillionaire status by 2025, for Adani, and 2026, for Zhang Yiming, the founder-CEO of Chinese company ByteDance.
Massive Net Worth
According to The Star, Musk's net worth is currently equal to the entire GDP of the Czech Republic, a central European country with a population of 10.7 million people. If any individual's net worth reaches the $1 trillion mark, their wealth would be more than the GDP of the Netherlands, a country with a population of 17.4 million and home to popular tourist destination Amsterdam.
Furthermore, the World Bank noted that the current world GDP is valued at $84.75, meaning that if an individual would have a net worth of $1 trillion, they would account for roughly 1.17% of the entire world's GDP.
Musk's rise in fortune was thanks to him spending his Paypal sales money on founding SpaceX and Tesla. The electric vehicle manufacturer is the leading supplier of electric cars in the entire world, while SpaceX is able to generate massive income by charging governmental and commercial clients to send various things to space, including satellites, ISS supplies, and human beings, iHeart reported.
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