Elon Musk is on track to become the world’s first trillionaire, as soon as 2027, according to a new study.
Musk topped a list of business moguls on Informaconnect’s recent study of companies and people who are approaching trillionaire status, based on market cap, value of assets owned and overall net worth.
Musk, who is currently worth an estimated $195 billion, according to the study, sees his worth grow by more than 100 percent a year, putting his estimated timeline for reaching trillionaire status at 2027.
His tech company Tesla is slated to achieve trillion-dollar valuation by next year, the same study found, noting its annual growth rate is also north of 170 percent.
ACCORDING TO FORBES
Informaconnect said it calculated Musk’s potential to reach trillionaire status by taking the net worth data of the top 30 wealthiest people in the world, according to Forbes, and loging the last six years of data, working backwards from the most recent to as far back as 2017.
‘Out of these 30, we excluded those on whom no data is available for at least five years and, thus, for whom we cannot calculate a reliable annual average growth rate,’ the study said.
‘We then calculated the average growth rate per year for everyone in the resulting shortlist over the last five years and extrapolated this to yield 30-year forecasts. We used this data to predict who is likely to reach trillionaire status and in what year.’
