Elon Musk (left), Gautam Adani (center) and Jen-Hsun Huang (right)
Reuters
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up To receive future editions delivered directly to your inbox.
On September 29, 1916, newspapers across the country announced a milestone in wealth once considered unattainable: the world’s first billionaire.
“Standard Oil $2,014 Makes Billionaire” headlined the New York Times, adding that Standard Oil’s surge “makes founder and largest shareholder John D. Rockefeller almost certain to become a billionaire.”
More than a century after America’s first billionaire (in measurable dollars) emerged, the question of who will be the first to reach the trillionaire mark remains fascinating. At least six companies have done so, most recently Berkshire Hathawaywhich Breaking through $1 trillion just before Warren Buffettof 94th birthday. NVIDIA Currently worth $2.6 trillion, it hit the 13-figure club last year.
What about individuals? According to a new report Informa Connect Academypredicting trillionaire status based on the average annual growth rate of wealth, Tesla CEO Musk Likely to become the first trillionaire.
According to financial reports, Musk is currently the world’s richest man, with assets of US$251 billion. Bloomberg Billionaires Index. Connect Academy predicts that Musk will become a trillionaire by 2027, assuming his wealth continues to grow at an average annual rate of 110%.
According to reports, the second person to become a trillionaire will be Gautam Adani, the founder of India’s Adani Group. The report says that if Adani maintains its recent 123% annual growth rate, he will become a trillionaire by 2028.
Nvidia CEO Jensen Huang witnessed his Soaring wealth According to the report, assets have increased from US$3 billion to more than US$90 billion in five years, and he will become a trillionaire by 2028. His wealth must continue to grow at an average annual rate of 112%. Nvidia’s shares are up about 115% this year after more than tripling last year.
Fourth on the list is Prajogo Pangestu, founder of Indonesian energy and mining group Barito Pacific. The report predicts that Pangestu will reach trillionaire status by 2028.
The top five will be LVMH Chief executive Bernard Arnault is currently the world’s third richest man, with assets of nearly $200 billion. The report predicts the luxury king will become a trillionaire by 2030, while Yuan CEO Mark Zuckerberg.
Some of the top billionaires who looked likely to quickly join the four-comma club didn’t make the top 10. No. 12. Google The founders also expect to wait 12 years to become trillionaires – although artificial intelligence may accelerate their rise.
True, wealth watchers have been predicting the emergence of the first trillionaire for years. And the stocks of Tesla, Nvidia and LVMH may not rise as fast over the next five years as they have over the past five years.
However, more than 100 years after the first billionaire appeared, the first trillionaire is likely to be crowned in the next decade.
