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Elon Musk is predicted to be the world's first trillionaire as early as 2024, according to a report.
Software company Tipalti Approve predicted the Tesla CEO's net worth would exceed the $1 trillion mark as early as 2024, Chron reported. Musk's current net worth is $263 billion, making him the world's richest man.
"Since 2017, Musk’s fortune has shown an annual average increase of 129%, which could potentially see him enter the trillion-dollar club in just two short years, achieving a net worth of $1.38 trillion by 2024 at age 52," the report said. "As the saying goes, you need to spend money to make money. Musk sank the funds from his sale of PayPal, roughly $180 million, into his new companies Tesla and SpaceX. Tesla manufactures a sells electric cars, and with a 23% stake in the company, contributes significantly to Musk’s immense wealth. SpaceX generates massive incomes by charging governmental and commercial clients to send various things into space, including satellites, ISS supplies, and people. These two companies combined saw Musk’s fortune soar from $25 billion in 2020 to $263 billion in 2022."
Another Texas businessman is poised to become a trillionaire on the heels of Musk. The report states that Michael Dell, the CEO of Dell Technologies, would become a trillionaire as early as 2033.
Here's a look at the top 5 people predicted to become the world's first trillionaires:
- Elon Musk ($263 billion) by 2024
- Gautam Adani & Family ($93 billion) by 2025
- Zhang Yiming ($59 billion) by 2026
- Bernard Arnault ($186 billion) by 2029, Mukesh Ambani ($97 billion) by 2029
- Jeff Bezos ($188 billion) by 2030
You can see the full report here.