A looming Bear Market and a beleaguered bid to buy Twitter for $44 billion may still not stop Elon Musk from becoming the world’s first trillionaire, according to a new report.
The brash Tesla and SpaceX CEO, who is widely believed to be the world’s richest man, is poised to become the world’s first trillionaire mogul as early as 2024, according to a report from software company Tipalti Approve.
The company predicted Musk’s already-massive wealth will pass the $1 trillion mark by comparing his current net worth, which is $263 billion, with his year-over-year income growth since 2017.
Tipalti Approve’s projection comes as Musk’s Twitter buyout approaches fruition. The social media platform’s board of directors recommended that its shareholders vote in favor of Musk’s proposed bid, unanimously determining “that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders” in a regulatory filing, per Business Insider.
Musk’s net worth is currently about equal to the entire GDP of the Czech Republic, a European country with a population of 10.7 million, according to data from the World Bank.
If Musk managed to reach the $1 trillion mark, his wealth would surpass the entire GDP of the Netherlands. And with the current world GDP valued at $84.75 trillion according to the World Bank, anyone reaching trillionaire status would have a net worth that is 1.17% of the entire world’s GDP, according to number-crunching by MRT.com.
Those predicted to become trillionaires after Musk include Adani Group Chairman Guatam Adani in 2025 and Zhang Yiming, founder and CEO of TikTok’s parent company ByteDance Technology Co., in 2026.
Other notable potential trillionaires include Louis Vuitton CEO Mukesh Ambani (2029), Amazon CEO Jeff Bezos (2030), Google co-founder Larry Page (2032), L.A. Clippers owner and former Microsoft CEO Steve Balmer (2032), Facebook CEO Mark Zuckerberg (2034), Oracle CEO Larry Ellison (2036) and Microsoft co-founder Bill Gates (2044).
Of the 30 richest people in the world, 21 “realistically have a chance” to become a trillionaire at some point in their lifetimes, the report said.