Elon Musk is on track to become the world’s first trillionaire by 2027, according to a recent global wealth report.
At 53, Musk is currently the richest person in the world with a net worth of $251 billion (£191 billion), as reported by Bloomberg’s Billionaires Index. Informa Connect Academy’s findings reveal that Musk’s wealth has been growing at an average annual rate of 110%. If this growth rate continues, he could reach the trillionaire milestone within the next three years.
The report, titled the “2024 Trillion Dollar Club,” also highlights that Musk’s electric car company, Tesla, is valued at $669.3 billion (£509.7 billion). Tesla’s growth rate is exceptionally high at 173.3% per year, suggesting that the company could surpass $1 trillion (£0.76 trillion) in value by next year.
Microsoft ($3.4 trillion or £2.6 trillion) and Apple ($3.3 trillion or £2.5 trillion) are the top two richest companies, having achieved trillion-dollar valuations in 2019 and 2018, respectively.
In addition to Tesla, Musk’s ventures include SpaceX, a spacecraft manufacturer; Neuralink, a neurotechnology firm; and The Boring Company, a tunnel construction firm. Following his acquisition of Twitter for approximately $44 billion (£33.5 billion) in late 2022, which he rebranded as X, Musk has faced controversy, including a recent feud with Brazil’s Supreme Court that led to X being banned in the country.
Musk also faced backlash after endorsing a Tucker Carlson interview featuring false claims about the Holocaust, which led to condemnation from the White House and subsequent deletion of his post. Additionally, Musk has been critical of UK Prime Minister Sir Keir Starmer, accusing him of supporting “two-tier policing,” which Sir Keir countered by condemning social media companies for inciting violence.
