Elon Musk, Tesla’s CEO, is on the verge of surpassing Indian businessman Gautam Adani to become the first trillionaire.
New Delhi: 10th September 2024
In Short:
Elon Musk is predicted to achieve the title of the world’s first trillionaire by 2027
Musk’s annual wealth growth exceeds 110%
An Indian billionaire might become the second trillionaire after Musk.
According to a recent report from Dubai’s Informa Connect Academy, Tesla CEO Elon Musk is on the path to become the world’s first trillionaire by 2027.
Musk’s wealth is increasing at an astounding growth rate of about 110% annually, holding a net worth of $241 billion according to Bloomberg billionaire index.
Indian businessman Gautam Adani, who could become the second person to surpass the trillionaire milestone by 2028, is expected to follow quickly behind.
Adani has grown his wealth by a substantial 123% annually.
Other billionaires including Nvidia founder Jensen Huang, Meta’s Mark Zuckerberg, and Bernard Arnault, of French luxury goods group LVMH are anticipated to follow and hit the trillionaire benchmark by 2030.
India’s wealth creation has received media coverage of late, with two reports highlighting how wealth creation has accelerated. A Fortune India report stated that the wealth of the richest received individuals in the country totals over $1 trillion, at approximately $1.19 trillion (or Rs 99.86 lakh crore) (185 dollar billionaires).
In the lead are Gautam Adani and Mukesh Ambani, both having significant portions over Rs 10 trillion. In third, the Shapoorji Pallonji family has amassed Rs 3,64,932 crore in wealth.
According to Hurun India’s Rich List 2024, it took approximately five days at the end of the year from 2023’s beginning until a new billionaire in India was added to the catalog and 1,539 individuals with a net worth above Rs 1,000 crore. Ambani was placed as the richest Asian on the Bloomberg Real Time index with $111 billion and Adani followed with $99.6 billion.
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