San Fransico, September 9, 2024- Tesla CEO Elon Musk could become the world’s first trillionaire by 2027, according to a report from Informa Connect Academy.
In addition to Musk, other billionaires are also forecasted to join the trillionaire club in the near future.
Nvidia CEO Jensen Huang, Adani Group founder Gautam Adani, and Barito Pacific founder Prajogo Pangestu are predicted to reach trillionaire status in 2028, provided their wealth continues to grow at the same rate. Meta’s Mark Zuckerberg could follow by 2030.
According to the Bloomberg Billionaire Index, Musk, is already the world’s richest person with a net worth of $237 billion.
He is projected to hit the trillion-dollar mark if his wealth continues to grow at its current annual rate of 110%.
The forecast comes as Musk’s wealth remains closely tied to his 20.5% stake in Tesla, a company whose stock has fluctuated significantly in recent years.
Earlier in 2024, Tesla’s stock fell by 7% following weaker-than-expected vehicle deliveries, causing Musk’s net worth to take a hit.
However, a successful business trip to China in April helped Musk recoup those losses.
Despite a current wealth increase of $7.73 billion compared to last year, Musk’s fortune remains below its 2021 peak of $340 billion.
This volatility in Musk’s wealth is largely driven by Tesla’s stock performance, which has seen dramatic ups and downs in recent years.
The electric vehicle company is pivotal to Musk’s financial standing, and any shifts in the market could impact the timing of his potential trillionaire status.
While Musk’s other ventures, including social media platform X (formerly Twitter), have faced challenges, including a 71% valuation drop since he took over in 2022, Tesla’s success remains the key to his financial ascent.
Informa Academy’s Report is here.
