Elon Musk on Track to Become World’s First Trillionaire by 2027

According to estimates by global education company Informa Connect Academy, tech entrepreneur Elon Musk is projected to become the world’s first trillionaire by 2027.

The forecast is based on Mr Musk’s average annual wealth growth rate of 109.88%. As the owner of social media platform X (formerly Twitter), he is currently the richest person in the world, with a fortune of $237 billion, according to the Bloomberg Billionaires Index.

As the co-founder of six companies, including electric carmaker Tesla and spacecraft maker SpaceX, Mr Musk’s business ventures have significantly contributed to his wealth. Tesla, with a market capitalization of $669.28 billion, is expected to reach the trillion-dollar mark next year. Additionally, Mr Musk acquired Twitter in 2022, rebranding the platform as X and pledging to be more fair and transparent.

Other billionaires who are likely to join the “trillionaire club” in the near future include India’s richest man Gautam Adani, Nvidia CEO Jensen Huang, and Indonesian business magnate Prajogo Pangestu, founder of Indonesia’s Barito Pacific Group. Informa Connect Academy estimates that all three will become trillionaires by 2028.

French billionaire Bernard Arnault, Chairman of LVMH – the world’s largest luxury group, is also expected to become a trillionaire by 2030.

Musk’s rise to wealth began when he first appeared on Forbes’ billionaires list in 2012 with a net worth of $2 billion. In 2021, he became the world’s richest person, surpassing Amazon founder Jeff Bezos. Although he lost the title to Arnault in December 2022 when Tesla shares plunged, he returned to the top of the list six months later.