Elon Musk, the CEO of Tesla and SpaceX, is poised to become the world’s first trillionaire by 2027, according to Informa Connect Academy. His net worth has been growing rapidly at an average rate of 110% per year, making him the “clear favorite” to hit the $1 trillion mark.
Musk’s business success has made him one of the most influential and controversial people in the world. He is already the richest person on the planet, with a fortune estimated at nearly $250 billion. His biggest asset is Tesla, which has become the world’s most valuable auto company with a price tag of around $710 billion.
However, Musk faces competition from other billionaires, including Jensen Huang, CEO and co-founder of Nvidia, who could become a trillionaire by 2028. Indian billionaire Gautam Adani is also on track to reach the trillion-dollar mark by 2028.
Tesla’s future will play a significant role in determining whether Musk reaches the trillion-dollar milestone. The company has faced challenges, including fierce competition from cheaper rivals in China and software glitches that led to recalls. Nevertheless, analysts believe Tesla could continue to thrive, pushing Musk’s fortune beyond $1 trillion.
Despite the risks, Musk remains confident in his ability to overcome obstacles. As Dan Ives, senior equity analyst at Wedbush Securities, put it: “Musk has positioned himself to achieve new heights over the coming years as Tesla capitalizes on full self-driving, Robotaxis, and the future of EVs.”
Source: https://edition.cnn.com/2024/09/17/business/elon-musk-richest-person-trillionaire/index.html