Elon Musk could become World’s first Trillionaire with SpaceX by 2024

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Congratulations, Elon Musk; you have maybe done it again.

According to a new analysis by procurement firm Approve.com, Elon Musk, the CEO of Tesla (TSLA) – Get Tesla Inc Report and the world’s wealthiest man, is on course to become the world’s first trillionaire.

With a net worth of $221 billion, Musk has already clinched the top place on the Bloomberg Billionaires Index. Musk’s net worth might reach a trillion dollars in 2024, according to Approve, with a yearly average gain of 129 percent.

Musk’s riches are based on his ownership of Tesla and SpaceX, the two firms he oversees. On social media, Musk seemed to be a popular option, with numerous individuals voicing their thoughts on Twitter.

One user recently tweeted, “The whole cosmos is positioned to create @elonmusk the world’s first trillionaire.” “Elon will become the world’s first trillionaire,” someone else said.

Whoever becomes the first trillionaire will join oil magnate John D. Rockefeller, who became the world’s first confirmed billionaire in 1916, and Microsoft’s (MSFT) – Get Microsoft Corporation Report Bill Gates, who briefly became the world’s first centibillionaire when his net worth surpassed $100 billion in 1999.

Gautam Adani and his family are following Musk. Adani is the chairman of the Adani Group, a commodities trading company.

With his estimated net worth of $84.2 billion, Adani is ranked 11th on the Bloomberg list. At his present pace of growth, Approve believes he will be a trillionaire one year after Musk.

Zhang Yiming, the chairman and founder of Beijing ByteDance Technology, is ranked third on the list. With a net worth of $44.5 billion, he ranks 28th on Bloomberg’s list, but he may be a trillionaire by 2026.

The number four slot in the big dollars brigade is shared by two persons, both of whom might be trillionaires by 2029.

They are as follows:

Mukesh Ambani is the chairman and managing director of Reliance Industries Limited, a Mumbai-based global company. With a net worth of $87.4 billion, Ambani is ranked number ten on the Bloomberg list.

And LVMH (LVMHF) Moet Hennessy – Louis Vuitton SE chairman and CEO Bernard Arnault. With a net worth of $138 billion, Arnault ranks third on Bloomberg’s list.

What list of extremely wealthy men would be complete without Amazon’s (AMZN) – CEO Jeff Bezos? Get the Amazon.com, Inc. Report from Jeff Bezos, whose company is expected to be worth $1 trillion by 2030.

With a net worth of $164 billion, Bezos is the second richest person on the Bloomberg Index, after Musk.

Since Bill Gates, he was the first person to achieve $100 billion, and he was projected to become the world’s first trillionaire a few years ago.

Approve said it compiled the ranking by comparing the yearly net worths of the top 30 wealthiest persons from 2017 to the present. They assessed each billionaire’s year-over-year yearly growth rate and predicted when they would reach one trillion dollars.

Based on their present net worths and pace of wealth development over the previous six years, just 21 of the thirty persons evaluated had a reasonable probability of becoming a trillionaire during their lifetime, according to Approve.

“There is still a lot to play for in the race to become the first trillionaire,” the business stated, adding that the rankings might change swiftly.

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