A certain very wealthy electric-vehicle company CEO could be the first trillionaire.
Congratulations, Elon Musk, you’ve done it again…possibly.
The CEO of Tesla (TSLA) – Get Tesla Inc Report and world’s richest man, is on track to become the world’s very first trillionaire, according to a recent study by procurement company Approve.com.
‘The Entire Universe…’
Musk has already nailed down the top spot of the Bloomberg Billionaires Index with a net worth of $221 billion.
With an annual average increase of 129%, Musk’s net worth could hit a trillion dollars in 2024, Approve said.
Musk’s fortune is tied to his stakes in Tesla and SpaceX, the two companies he runs.
Musk seemed to be a popular choice on social media, with several people sharing their views on Twitter.
“The entire universe is positioned to make @elonmusk the world’s first trillionaire,” one person tweeted recently.
“Elon is going to become the world’s first Trillionaire,” another commented.
Whoever does reach the trillion mark will be joining the ranks of oil titan John D. Rockefeller, who became the world’s first confirmed billionaire in 1916; and Microsoft’s (MSFT) – Get Microsoft Corporation Report Bill Gates, who briefly became the first centibillionaire when his net worth surpassed $100 billion in 1999.
After Musk…
Coming in behind Musk is Gautam Adani and family. Adani is the chairman of the commodity trading business Adani Group.
Adani is number 11 on the Bloomberg list with a net worth of $84.2 billion. Approve figured he could cross the trillionaire line one year after Musk at his current rate of growth.
Third on the list is Zhang Yiming who is the chairman and founder of Beijing ByteDance Technology. He’s 28th on the Bloomberg list with a net worth of $44.5 billion, but could become a trillionaire by 2026.
Two people share the number four spot in the big bucks brigade, as both could be trillionaires by 2029.
They are:
Mukesh Ambani, chairman and managing director of Reliance Industries Limited, a multinational conglomerate headquartered in Mumbai. Ambani is 10 on the Bloomberg list with a net worth of $87.4 billion.
And Bernard Arnault, chairman and CEO of LVMH (LVMHF) Moet Hennessy – Louis Vuitton SE. Arnault is third on the Bloomberg list with a net worth of $138 billion.
Rocket Man
And what list of ridiculously rich dudes would be complete without Amazon’s (AMZN) – Get Amazon.com, Inc. Report Jeff Bezos, who is estimated to hit the $1 trillion mark by 2030.
Bezos, by the way, is number two on the Bloomberg Index, coming up behind Musk with a net worth of $164 billion.
He was the first to reach $100 billion since Gates and a few years ago he was expected to become the world’s first trillionaire.
In creating the list, Approve said it compared the annual net worths of the top 30 richest people from 2017 to present day.
They calculated the year on year annual growth rate for each billionaire and estimated how soon each of them will reach one trillion dollars.
Approve said that of the thirty individuals analyzed, only 21 will realistically have a chance of becoming a trillionaire during their lifetime, based on their current net worths and rate of wealth growth over the last six years.
“The race to be the first trillionaire is still all to play for, as the standings can change very quickly,” the company said.
