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Elon Musk On Track To Become The First Trillionaire By 2027

By Nagasunder in Twitter/X News, posted September 9, 2024

Elon Musk, the world’s richest person, is on course to become the first trillionaire by 2027, according to a new global wealth report.

Musk, 53, has a fortune estimated at $251 billion (£191 billion), according to the Bloomberg Billionaires Index. His wide-ranging business ventures, including Tesla, SpaceX, and Neuralink, have been key drivers of his expanding wealth.

Tesla and Future Growth

The report, 2024 Trillion Dollar Club, highlights Tesla’s rapid growth. The electric car company is now valued at $669.3 billion (£509.7 billion).

Tesla’s growth rate is 173.3 percent per year. If this trend continues, the company alone could reach a $1 trillion valuation by 2024.

Tech giants like Microsoft and Apple remain the top two richest companies. They have valuations of $3.4 trillion and $3.3 trillion, respectively. They assed the trillion-dollar mark in 2018 and 2019.

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Other Potential Trillionaires

Indian business magnate Gautam Adani is listed as the second most likely person to reach trillionaire status, with an annual growth rate of 123 percent.

He is predicted to hit the milestone by 2028. Also projected to join the trillionaire ranks by 2028 are Nvidia CEO Jensen Huang and Indonesian energy tycoon Prajogo Pangestu.

Musk’s Controversies

Despite his immense success, Musk has been embroiled in numerous controversies.

The rows and legal disputes have largely followed his $44 billion (£33.5 billion) purchase of Twitter (now rebranded as X) in late 2022.

Among the criticisms, he has been accused of promoting controversial statements and creating tension with political figures.

Most recently, Musk was involved in a legal battle with Brazil’s Supreme Court, which led to X being banned in the country.

Musk has also drawn fire for his public endorsements. This includes a live interview with former President Donald Trump and controversial comments shared by right-wing media figures on the platform.

The White House recently condemned a Holocaust-denying interview that Musk had praised on X, calling the remarks “disgusting” and “a sadistic insult to all Americans.” Musk later deleted the post.

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