Musk on pace to become world’s first trillionaire by 2027: report

PARIS: Elon Musk is on pace to become the world’s first trillionaire by 2027, according to a new report from a group that tracks wealth.

Informa Connect Academy’s finding about the boss of electric carmaker Tesla, private rocket company SpaceX and social media platform X stems from the fact that Musk’s wealth has been growing at an average annual rate of 110 percent.

He was also the world’s richest person, with $251bn, according to the Bloomberg Billionaires Index, as the academy’s 2024 Trillion Dollar Club report began circulating on Friday.

The academy’s analysis suggested business conglomerate founder Gautam Adani of India would become the second to achieve trillionaire status.

That would reportedly happen in 2028 if his annual growth rate remains at 123 percent.

Jensen Huang, the chief executive officer of the tech firm Nvidia, and Prajogo Pangestu, the Indonesian energy and mining mogul, could also become trillionaires in 2028 if their trajectories hold.

Bernard Arnault, the LVMH Moët Hennessy Louis Vuitton boss and the world’s third-richest person with about $200bn, is on track to eclipse a trillion dollars in 2030 – the same year as Mark Zuckerberg, the CEO of Meta.