Elon Musk is poised to make history as the world’s first trillionaire, according to a recent report by Informa Connect Academy titled “The Billionaires Club 2024”. The report highlights Musk’s extraordinary wealth growth, averaging 110% annually. At this rate, Musk could reach the trillion-dollar milestone within the next three years.
Tesla’s Phenomenal Performance
A significant contributor to Musk’s wealth is Tesla, his electric car company. Valued at $669.3 billion, Tesla’s market value is growing at an astounding 173.3% per year. The report suggests that Tesla alone could surpass a trillion-dollar valuation as early as next year.
Tech Giants and Emerging Billionaires
While Musk leads the pack, tech giants Microsoft and Apple maintain their positions as the world’s most valuable companies, valued at $3.4 trillion and $3.3 trillion respectively. Both reached the trillion-dollar mark in 2019 and 2018.
The report also identifies other potential future trillionaires:
- Gautam Adani, founder of Indian conglomerate Adani Group, with a 123% annual growth rate
- Jensen Huang, CEO of Nvidia
- Prajogo Pangestu, Indonesian energy and mining mogul
All three are projected to reach trillionaire status by 2028.
Musk’s Business Empire and Controversies
Musk’s wealth stems from a diverse portfolio of companies, including:
- SpaceX (spacecraft manufacturing)
- Neuralink (neurotechnology)
- The Boring Company (tunnel construction)
- X (formerly Twitter)
However, Musk’s tenure at X has been marked by controversy:
- Apologizing for supporting anti-Semitic conspiracy theories
- Clashing with advertisers, leading to platform exodus
- Conflict with Brazil’s Supreme Court, resulting in a temporary ban
- Interviewing and endorsing former President Donald Trump
- Sharing and later deleting a post with false claims about the Holocaust
- Criticizing British Prime Minister Sir Keir Starmer during UK riots
The Road Ahead
As Musk’s wealth continues its meteoric rise, questions remain about the sustainability of this growth. His ability to navigate controversies while maintaining his business empire will likely play a crucial role in determining whether he achieves the unprecedented status of world’s first trillionaire.