This is according to a report by business intelligence and wealth tracking firm Informa Connect, which found that Musk's ownership of electric carmaker Tesla, private space company SpaceX and social media platform X, formerly Twitter, allows his wealth to grow at its current rate of 110 percent per year.
Informa Connect's 2024 Trillion Dollar Club report also indicates that Musk is the world's richest person with a wealth of $237 billion. (Related: Tesla shareholders vote to reinstate Elon Musk's $56 billion pay package despite earlier court order to rescind it.)
Tesla is slated to achieve a trillion-dollar market valuation by 2025, and its annual growth rate is above 170 percent.
Musk first became a billionaire in 2012, and since then his net worth has magnified. In 2022, he became the world's richest person for the first time in history, with a then-net worth of around $220 billion, overtaking Amazon co-founder and executive chairman Jeff Bezos' then-net worth of $177 billion.
Other billionaires could reach the trillion-dollar mark in succeeding years
Informa Connect's analysis suggests that many more of today's multi-billionaires could breach the trillion-dollar mark in the years after Musk himself achieves this status.
After Musk is Gautam Adani of India, founder and chairman of the multinational conglomerate Adani Group, a corporation that started with trading in commodities and port development and operations in India. Informa Connect indicates Adani will reach trillionaire status in 2028 if his annual growth rate remains at 123 percent.
Next are Taiwanese-American Jensen Huang, the CEO of multinational Big Tech firm Nvidia, and Prajogo Pangestu, founder and chairman of Indonesian energy and natural resources giant Barito Pacific. Both are also estimated to reach trillionaire status by 2028.
By 2030, social media site Facebook founder and Meta Platforms chairman and CEO Mark Zuckerberg is expected to join the trillion-dollar club along with Bernard Arnault and his family and Phil Knight and his family. Arnault is the founder, chairman and CEO of French luxury goods conglomerate LVMH, and Knight is the billionaire co-founder and chairman emeritus of global sports equipment and clothing giant Nike.
Informa Connect's report predicts that the world could see 10 trillionaires in existence by 2030. Although this analysis relies on current wealth growth rates being maintained. Stock fluctuations and market conditions are critical to growth rates. Just these past few weeks, Nvidia has experienced a massive drop in market capital that saw Huang's net worth drop by billions, including around $10 billion in just a single day after the company's stock suffered a drastic hit.
Musk's net worth is just as volatile, if not more so. It should be noted that his worth today is far less than his worth in 2021, when he was believed to be worth around $340 billion. But the volatility of Tesla stock – down by 20 percent in the past year – and his struggles with maintaining investor confidence around his acquisition of the social media platform X – which is reportedly worth 71 percent less than before he purchased it in 2022 – could see someone else be crowned the world's first trillionaire.
Watch this episode of "World Alternative Media" as host Josh Sigurdson warns that the world's billionaires, including Mark Zuckerberg, Jeff Bezos and Warren Buffet, are selling billions in shares.
This video is from the World Alternative Media channel on Brighteon.com.
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