London/IBNS: Elon Musk, with a net worth of about $237 billion as of September 9, 2024, on the Bloomberg Billionaires Index, is on course to become the worlds first trillionaire by 2027, according to a report by Informa Connect Academy.
Musk, the founder-CEO of Tesla and SpaceX, is currently the richest individual globally, with his wealth increasing at an average annual rate of 109.88 percent.
This growth trajectory suggests he could hit the $1 trillion mark within the next three years.
The report titled 2024 Trillion Dollar Club identifies thirty billionaires who are on a path to potentially reaching trillionaire status by the mid-century.
It also highlights companies with market valuations at or nearing $1 trillion.
No one has yet achieved trillionaire status, but there are promising candidates. Here are some multi-billionaires likely to become trillionaires in the foreseeable future, the study notes.
Indian business magnet Gautam Adani, with a current net worth of $99.6 billion and an annual growth rate of 122.86 percent, is expected to become the second trillionaire by 2028, as per the report.
Gautam Adani, founder and chairman of the Adani Group, is the second wealthiest person in India and the 13th globally.
Reliance Industries chairman and managing director Mukesh Ambani, currently Asias richest individual with a net worth of $111 billion, may also reach trillionaire status by 2033.
Jensen Huang, CEO and co-founder of American chipmaker Nvidia, which is the first U.S. company valued at over $1 trillion, has a net worth of $90.5 billion.
With a growth rate of 111.18 percent annually, Huang is projected to achieve trillionaire status by 2028.
Indonesian businessman Prajogo Pangestu, founder and chairman of Barito Pacific, is expected to reach a net worth of $1 trillion by 2028.
Bernard Arnault, CEO of the largest luxury goods conglomerate LVMH, is another projected trillionaire.
With a net worth of $181 billion and an average annual growth rate of 29.33 percent, Arnault is anticipated to reach $1 trillion by 2030.
The report also notes that among the thirty billionaires listed, three women are expected to reach the trillionaire milestone by the middle of the 21st century.
Francoise Bettencourt Meyers, granddaughter of LOral founder Eugne Schueller, with a net worth of $87.8 billion, is projected to become a trillionaire by 2040.
Julia Koch, widow of David Koch and owner of a 42 percent stake in Koch Industries, has a net worth of $64.3 billion and is expected to reach trillionaire status by 2050.
Alice Walton, daughter of Walmart founder Sam Walton, is on track to achieve a net worth of $1 trillion by 2051.
Walton and her siblings own a 50 percent stake in Walmart.
The report also highlights companies that have achieved or are approaching a $1 trillion market valuation.
Microsoft, Nvidia, Apple, Alphabet, Amazon, Saudi Aramco, and Meta have all surpassed the $1 trillion mark, with Berkshire Hathaway joining the list recently.
Taiwan Semiconductor Manufacturing Company (TSMC), Eli Lilly, Broadcom, and Tesla are close behind, with expectations to reach the $1 trillion valuation by 2025.
