Oxfam forecasts that by 2034, at least five individuals will join the trillionaire club, with Elon Musk, Mark Zuckerberg, and Jensen Huang leading the pack.
The charity’s updated inequality report highlights a significant increase in billionaire wealth, which rose three times faster in 2024 than it did in 2023. The rapid growth is attributed to emerging technologies like artificial intelligence and satellite industries. Notably, markets responded positively to news of a potential second Trump presidency, driven by expectations for a regulation-lite environment.
Despite this rise in wealth, Oxfam emphasizes that poverty remains widespread, with an estimated 3.6 billion people living below the $7-a-day poverty line – a figure largely unchanged since 1990. The organization advocates for a more equitable economic system, where the richest individuals who benefit from it should bear the costs.
According to Informa Connect Academy’s report, these five trillionaires are likely candidates:
1. Elon Musk: With a net worth of $449 billion, Musk is poised to become the first trillionaire.
2. Jeff Bezos: Bezos’ wealth has grown by over 35% in the past year, driven by his private sector space race and investments in AI.
3. Mark Zuckerberg: Zuckerberg’s company, Meta, has seen significant gains from its generative AI models and technologies, boosting his net worth to $217 billion.
4. Jensen Huang: Nvidia CEO Jensen Huang is expected to join the trillionaire club due to an annual wealth growth rate of 111.88% between 2017 and 2024.
5. Bernard Arnault: The luxury goods kingpin’s fortune is estimated to reach $1 trillion by 2030, according to Informa Connect Academy.
Oxfam’s report highlights the growing wealth gap and emphasizes the need for a more equitable economic system. These five individuals are likely to be among the first to achieve trillionaire status in the coming decade.
Source: https://fortune.com/2025/01/20/five-people-trillionaires-oxfam-elon-musk-jensen-huang