Elon Musk is projected to become the world’s first trillionaire by 2027, according to a new study by Informa Connect Academy, an organization that monitors global wealth. Musk, the CEO of Tesla, SpaceX, and X (formerly known as Twitter), has seen his wealth grow at an astounding average annual rate of 110%. As of the publication of the 2024 Trillion Dollar Club report, Musk’s net worth was $251 billion, securing his place as the richest person globally, according to the Bloomberg Billionaires Index.
The academy’s analysis also predicts that Musk may not be the only one to achieve trillionaire status. It suggested that Indian business tycoon Gautam Adani, the founder of a vast industrial conglomerate, could follow in Musk’s footsteps, potentially reaching a trillion-dollar net worth by 2028 if his wealth continues to grow at its current annual rate of 123%. Adani’s enterprises span multiple sectors, including energy and infrastructure, which have driven his rapid financial ascent in recent years.
Other notable figures could also enter the trillionaire club around the same time. Jensen Huang, the CEO of Nvidia, a tech firm known for its cutting-edge graphics processors and advancements in artificial intelligence, and Prajogo Pangestu, an Indonesian mogul with interests in energy and mining, could join Musk and Adani by 2028 if their current growth trajectories hold. In addition, Bernard Arnault, the head of luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton, is predicted to surpass $1 trillion by 2030. Arnault is currently the world’s third-richest individual, with a fortune nearing $200 billion. Mark Zuckerberg, the founder and CEO of Meta, is also on track to join the ranks of trillionaires by 2030 if his financial progress continues.
While the idea of individuals reaching such staggering levels of wealth continues to captivate public imagination, the report also underscores the vast concentration of resources in the hands of a few. In fact, only a select number of companies have achieved valuations exceeding $1 trillion. One of the most recent additions to this elite group is Warren Buffett’s Berkshire Hathaway, which surpassed the $1 trillion valuation mark in late August 2023, just ahead of Buffett’s 94th birthday. Nvidia reached the same milestone in May 2023, and by June, its market capitalization soared to $3 trillion, making it one of the world’s most valuable companies at the time, second only to Microsoft and ahead of Apple.
Despite the allure of who might become the first trillionaire, CNBC notes that public interest in wealth accumulation dates back over a century, when the U.S. crowned its first billionaire, John D. Rockefeller, in 1916. Rockefeller, the founder and majority shareholder of Standard Oil, was a pivotal figure in the development of the U.S. economy and remains a symbol of extreme wealth.
However, the rise of such immense fortunes has sparked ongoing debate. Many scholars argue that the vast concentration of wealth among the ultra-wealthy presents a significant social challenge. For example, one report estimated that the richest 1% of the global population is responsible for more carbon emissions, a major factor in climate change, than the poorest 66%. This statistic highlights the environmental and social implications of wealth inequality.
Musk, whose wealth has skyrocketed due to his leadership of Tesla and SpaceX, remains a polarizing figure. Just days before the release of Informa Connect Academy’s report, Musk faced significant criticism for a post on X, the platform he owns. Musk had shared an interview between former Fox News host Tucker Carlson and podcaster Darryl Cooper, describing it as “very interesting” and “worth watching.” However, the content of the interview sparked backlash. In it, Cooper claimed that the Nazi regime did not intend to murder millions of people during the Holocaust, instead suggesting that the mass deaths were due to the regime’s inability to care for them. He further blamed Winston Churchill for escalating World War II.
Musk later deleted the post, but not before it had ignited outrage across the internet. The White House condemned the interview, calling it a “disgusting and sadistic insult to all Americans.” This incident marked yet another moment of controversy for Musk, who frequently uses X to share his views and engage with followers.
Adding to the controversies surrounding him, Musk recently announced his support for Donald Trump’s bid for a second term as U.S. president in the upcoming election. Trump, who is running as the Republican nominee, is expected to face off against current Democratic Vice President Kamala Harris, among others, in the race for the White House in November.
Despite his wealth and business success, Musk’s political stances and social media posts often attract criticism, underscoring the complex nature of his public persona.
