Elon Musk is presently the wealthiest person on the planet, having surpassed former Amazon CEO Jeff Bezos to earn the title last year. A new study from Tipalti Approve suggests that Musk could become the first person in history to accumulate a $1 trillion net worth as soon as 2024, despite the fact that he has stated numerous times that material possessions are not important to him. Musk eventually sold nearly all of his personal properties as proof of this claim.
In accordance with Forbes’ Real-Time Billionaires list, Musk’s net worth now stands at more than $260 billion, over $70 billion higher than Bezos’ current estimated net worth of around $190 billion. In recent years, Musk’s fortune has risen dramatically as a result of his controlling ownership in Tesla, an electric vehicle firm whose stock has soared in value significantly since 2020. SpaceX has also contributed to Musk’s skyrocketing net worth, which might see an even greater rise in the next two years as the company continues to expand.
Since 2017, Musk’s wealth has grown by an average of 129 percent each year, putting him on track to join the trillion-dollar club in only two years, with a net worth of $1.38 trillion by 2024 at the age of 52, according to research by Approve, which was published on Yahoo Finance. “SpaceX produces significant revenues by charging governmental and commercial customers to launch a variety of objects into space, including satellites, supplies for the International Space Station, and humans.”
Other billionaires are projected to reach the trillion-dollar mark as well, but they will not do so before Musk. Zhang Yiming, the creator of TikTok, is expected to have a $1 trillion net worth by 2026, making him the world’s youngest trillionaire at the age of 42. Zhang Yiming is the founder of TikTok. It is possible that Bezos will not reach the barrier until 2030. Bezos established a new standard in the field of net worth by surpassing $100 billion in wealth before any other entrepreneur around the globe. In 2017, e-commerce and global procurement titan Jeff Bezos became the first person to achieve $100 billion in wealth since Bill Gates in 1999, according to the Approve report. “It was Bezos, not Musk, who has fired from Amazon a few years ago.” projected to become the world’s first trillionaire, and who now isn’t expected to join the club until 2030, some six years after Musk.”
Inflation, of course, has had an impact on the calculations of the world’s wealthiest individuals for many decades. Of particular note, the analysis predicts that King Sad ed-Din Mansa Musa I of Mali, who is usually considered as the wealthiest man to have ever lived, would have a net value much in excess of anybody alive now. Musa ruled over a kingdom that, at one point in time, accounted for about half of all the gold in the globe, according to some estimates. Several historians have questioned the accuracy of certain estimates of his financial fortune, which range from $400 billion to $800 billion.