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Could Elon Musk’s acquisition of Twitter prevent him from becoming the world’s first Trillionaire by 2024?

According to new research from Approve, the world’s first trillionaires may be forecasted by combining the yearly net worths of the world’s top 30 wealthiest individuals with their annual growth rate to determine when each of them would achieve one trillion dollars. Elon Musk is expected to become the world’s first trillionaire by 2024, according to the report. Elon Musk, the world’s wealthiest person, has a net worth of $263 billion, with an annual net growth rate of 129 percent, which means that at the age of 52, his net worth may reach a trillion dollars in as little as two years.

The Adani Group (one of India’s most lucrative firms) is owned by Gautam Adani and his family. At his current pace of 121 percent growth, Adani would be a year behind Musk, attaining trillionaire rank in 2025 at the age of 62. Zhang Yiming, who is just 38 years old, is the founder and chairman of Beijing ByteDance Technology Co, one of the world’s most valuable start-ups. Zhang Yiming, who is 42 years old, is expected to become a trillionaire as a result of his firm in 2026.

Zhang Yiming is on track to become the world’s youngest trillionaire, with a 123 percent average annual net growth rate, by 2026, when he would be 42 years old. Six of the top 10 trillionaires work in the technology industry, which is expected to create the most trillionaires. For example, Jeff Bezos, the founder of Amazon, is ranked sixth, with the potential to become a trillionaire by 2030.

In the top ten list of trillionaires, Bernard Arnault, Chairman and Chief Executive Officer of luxury goods business Moet Hennessy Louis Vuitton (LVMH), is the only one from the fashion sector. It is projected that Arnault will attain the status of trillionaire in the year 2029.

Could Musk’s acquisition of Twitter jeopardize his position as a trillionaire?

Musk agreed to pay $44 billion for the social media network Twitter in April. He said in May, however, that the acquisition would be delayed until he received more information regarding the number of false accounts on the platform. Tesla CEO Elon Musk accused Twitter of “resisting and blocking” his access to information about phony accounts on the network yesterday. In a letter to the corporation, he said that there had been a “clear significant violation” of the merger agreement’s conditions.

According to the letter, signed by Skadden Arps counsel Mike Ringler, “Mr. Musk retains all rights deriving therefrom, including his right not to finalize the transaction and his right to cancel the merger agreement.”

This has cast doubt on Musk’s acquisition of the site, especially as Musk has often railed about frauds, bots, and bogus accounts on Twitter. According to Statista, 329 million people will use Twitter by the end of 2022, with the site valued at more than $30 billion. As a result, Musk’s acquisition of Twitter has the potential to speed up the pace at which he becomes a trillionaire, albeit this will primarily rely on how the site is changed.

Musk’s fortune has grown significantly thanks to acquisitions. Tesla, for example, has bought SolarCity Corp., Maxwell Technologies Inc., Grohmann Engineering GmbH, Perbix Machine Co. Inc., and Hibar Systems Ltd. in only the last six years. These are all huge corporations with considerable revenue contributions. With acquisitions proving to be a component of Musk’s growth plan, it’ll be fascinating to watch what impact canceling the Twitter transaction has on his quest to become a trillionaire.

Source: Business Leader

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Written by Alex Bruno

Freelance space writer Alex Bruno specializes in covering China's quickly expanding space industry. In 2021, he started writing for SpaceXMania. He also contributes to publications including SpaceNews, IEEE Spectrum, National Geographic, Sky & Telescope, and New Scientist. When Alex was a small child, he first experienced the space bug after seeing Voyager photographs of alien planets in our solar system. When not in space, Alex likes to go trail jogging in the Finnish countryside.

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