According to an Informa Connect Academy report titled “2024 Trillion Dollar Club” , Elon Musk, Chief Executive Officer (CEO) of Tesla Motors and SpaceX , is most likely to become the world’s 1st trillionaire by 2027.
- As per the report, Elon Musk who is currently, the richest man in the world with total net worth of USD 248 billion(as per the Bloomberg Billionaires Index on September 12, 2024) to become the world’s 1st trillionaire requires his wealth to grow at an average annual growth rate of nearly 110%.
- The report estimated that Gautam Adani(USD 111 billion), Chairman of Adani Group (India) will become the 2nd trillionaire by 2028, if his ports-to-power conglomerate continues to grow at an average annual rate of approximately 123%.
Key Findings:
i.As per the report, Jensen Huang(USD 95 billion), CEO of NVIDIA, the United States of America(USA) has been ranked at 3rd position among the top 10 individuals to become trillionaire, is estimated to surpass the trillion-dollar mark by 2028, if his company growing at an average annual rate of 111.88%.
ii.Prajogo Pangestu, Indonesian business typhoon, is the founder of Barito Pacific Group, has been ranked at 4th position on the list, with current net worth of USD 35.2 billion and if his company continues to grow at an average annual growth rate of 135.95%, will become trillionaire by the year 2028.
iii.Bernanrd Arnault (France), CEO of Louis Vuitton Moët Hennessy (LVMH), the world’s largest luxury conglomerate, ranked at 5th position on the list, is likely to become trillionaire by 2030.
- Along with Bernard Arnault, Mark Zuckerberg, founder, chairman and CEO of Meta (formerly known as Facebook) and Phil Knight and Family, co-founder and chairman of Nike are expected to become trillionaire by 2030.
iv.Other than Gautam Adani, Mukesh Ambani, Chairman and Managing Director (CMD) of Reliance Industries (RIL), the richest man in India, is the only Indian to be featured in the list of billionaire to become trillionaire.
- He is likely to enter the trillion-dollar club in 2033, if his wealth continues to grow with an annual growth rate of 28.25%.
List of Top 5 billionaires to become trillionaire:
| Rank | Name | Source of Wealth | Country | Predicted Year | Annual Growth Rate |
|---|---|---|---|---|---|
| 1st | Elon Musk | Tesla, SpaceX | The United States of America (USA) | 2027 | 109.88% |
| 2nd | Gautam Adani | Adani Group | India | 2028 | 122.86% |
| 3rd | Jensen Huang | NVIDIA | The USA | 2028 | 111.88% |
| 4th | Prajogo Pangestu | Barito Pacific | Indonesia | 2028 | 135.95% |
| 5th | Bernard Arnault | LVMH | France | 2030 | 29.33% |
| 8th | Mukesh Ambani | RIL | India | 2033 | 28.25% |
3 Women Billionaire to become Trillionaire:
The report has projected that 30 billionaires are most likely to breach the trillionaire mark by the year 2050, of which 3 are women.
i.Among 3 women billionaire who are likely to become trillionaire by 2050, Françoise Bettencourt Meyers, grand-daughter of Eugène Schueller, founder of L’Oreal, who holds total net worth of USD 85.9 billion, is expected to become a trillionaire by 2040.
ii.The report has estimated that Julia Margaret Flesher Koch, is the widow of David Koch, to become trillionaire by 2050. This projection is based on her current net worth of USD 74.8 billion.
iii.Alice Louise Walton, is the only daughter of Sam Walton, founder of Walmart, is expected to become a trillionaire in 2051. Her current net worth is USD 97.7 billion.
Trillion-Dollar Businesses in 2024:
i.As per the report, the USA-based software company, Microsoft Corporation has topped among the trillion-dollar businesses in 2024, with a market capitalization of USD 3.394 trillion(as of 3rd July 2024), followed by Apple and NVIDIA ranked at 2nd and 3rd position with market capitalization of USD 3.323 trillion and USD 3.057 trillion respectively.
ii.Other companies which are on the list of top 5 trillion-dollar businesses in 2024 are: Alphabet (USD 2.269 trillion), Jeff Bezos-led Amazon (USD 2.052 trillion), Saudi Aramco (USD 1.87 trillion) and Meta(USD 1.280 trillion).
Companies to achieve trillion-dollar status:
i.Taiwan-based Taiwan Semiconductor Manufacturing Company (TSMC) which is the 3rd largest semiconductor manufacturing company in the world, is expected to achieve a trillion-dollar market cap by 2025 with an average annual growth rate of 32.14%. The current market capitalization value of TSMC is USD 893.71 billion.
ii.While, the USA-based Berkshire Hathaway led by multi-billionaire Warren Buffet with current market cap of USD 874.76 billion is estimated to enter into trillion-dollar club by 2025 with an annual average growth rate of 10%.
iii.The USA-based pharmaceutical and biotechnology company, Eli Lilly with its current market cap valuation of USD 823.3 billion and with an annual growth rate of 46.29%, is projected to become trillion-dollar company by 2025, which is followed by California (the USA)-based Broadcom and Tesla with market cap of USD 763.77 billion, and USD 669.28 billion, ranked at 4th and 5th position respectively.
- Both Broadcom and Tesla are likely to enter into the trillion-dollar club by 2025.
Note: Mumbai(Maharashtra) based Reliance Industries Limited(RIL) is placed 25th on the list with the market cap value of USD 254.13 billion. It is expect to join trillion-dollar club by 2035.
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