‘Elon Musk, Gautam Adani set to be world’s first 2 trillionaires’ – Times of India

According to a report by Informa Connect Academy, Elon Musk, the entrepreneur behind Tesla, SpaceX, and X (formerly Twitter), is on track to become the world’s first trillionaire by 2027. The report, titled “2024 Trillion Dollar Club,” highlights Musk’s average annual wealth growth rate of 110%, which has propelled him to the top of the Bloomberg Billionaires Index with a net worth of $251 billion.
Several other multi-billionaires are on the path to joining the exclusive Trillionaires Club in the coming years. According to the report, Gautam Adani, the wealthiest individual in India, is projected to achieve trillionaire status by 2028. Jensen Huang, the CEO of Nvidia, and Prajogo Pangestu, an Indonesian business tycoon, are also expected to reach this milestone within the same timeframe.
The Adani Group’s business activities include “Power generation, transmission and distribution,” as well as “Ports and terminals, agriculture and general logistics, industrial parks.” The conglomerate also ventures into “Defence and aerospace incubation,” “Airport management,” and “Water treatment.” Additionally, the group is involved in “Road and rail networks,” “Data centres,” “Farming,” “Food manufacturing,” and “Real estate.”
Under Adani’s leadership, the individual subsidiaries of the Adani Group have achieved multi-billion market cap valuations. Gautam Adani himself boasts an impressive estimated net worth of $84 billion, with an average growth rate of 122.86% annually, the report said.
Jensen Huang, the sole CEO of NVIDIA since its inception, is projected to amass a fortune exceeding one trillion dollars by 2028. As one of the co-founders of the company, which has now achieved a trillion-dollar valuation, Huang has played a pivotal role in its success. Currently, Huang’s estimated net worth stands at $77 billion, and his wealth has been growing at an astonishing average annual rate of 111.88%. If this trend continues, he is on track to become one of the world’s first trillionaires within the next five years, the report said.
Additionally, Bernard Arnault, the French businessman at the helm of LVMH, “the world’s largest luxury conglomerate,” is anticipated to become a trillionaire by 2030. As these individuals continue to grow their wealth and expand their business empires, they are likely to join the ranks of the world’s most affluent people in the near future.
While the concept of a trillionaire has captivated the public since the emergence of the first billionaire, John D. Rockefeller, in 1916, many academics view the accumulation of such immense wealth as a social problem. A report has shown that the richest 1% of the global population is responsible for more carbon emissions than the poorest 66%, contributing significantly to the ongoing climate crisis.
Three women stand out among the 30 billionaires projected to amass a trillion-dollar fortune by 2050. Their presence on this list is noteworthy, considering the historical underrepresentation of women in the upper echelons of wealth.
These women have made significant strides in their respective fields, demonstrating exceptional business acumen and leadership skills. As they continue to grow their empires, they serve as role models for aspiring female entrepreneurs worldwide.
Francoise Bettencourt Meyers, the granddaughter of Eugène Schueller, who established L’Oreal, and her family possess a staggering net worth of $99.5 billion. Their ownership extends to more than one-third of the cosmetics giant, L’Oreal.
As the chairman of the family’s holding company, Francoise plays a significant role in overseeing their investments. Additionally, she maintains her position on the board of L’Oreal, ensuring her continued involvement in the company’s strategic decisions.
Given their current financial trajectory, it is anticipated that Francoise and her family will reach an astonishing net worth of $1 trillion by the year 2040, further solidifying their position among the world’s wealthiest individuals.