On September 29, 1916, newspapers across the United States announced a wealth milestone once thought unattainable: the world’s first billionaire.
“Standard Oil at $2,014 Makes Him a Billionaire” was the New York Times headline, which noted that the soaring price of Standard Oil stock makes John D. Rockefeller, the company’s founder and largest shareholder, a billionaire for sure.
“More than a century after the world’s first American billionaire (in terms of measurable dollar value), the question of who will be the first to reach trillionaire status remains a fascination,” CNBC added.
At least six companies have done so, the latest being Berkshire Hathaway, which surpassed $1 trillion before Warren Buffett, the company’s chairman, turns 94, according to a report published by the American network CNBC.
According to a new report from Informa Connect Academy, which predicts the world’s first trillionaire based on average annual growth rate in wealth, Elon Musk, the American businessman and CEO of Tesla, is likely to be the first trillionaire.
Musk is currently the richest person in the world, with a fortune of $251 billion, according to the Bloomberg Billionaires Index.
Musk is expected to become a trillionaire sometime in 2027, if his wealth continues to grow at an average annual rate of 110%.
According to the report, the second place is expected to be occupied by the Indian Gautam Adani, founder of the Adani Holding Group. The report estimates that Adani, with its current growth rate of 123%, could reach $1 trillion by 2028, if it maintains its recent annual growth rate. Adani has witnessed rapid growth through its businesses in energy, infrastructure and logistics in India.
In third place, the report said, Jensen Huang, CEO of Nvidia, whose personal fortune has risen from $3 billion to more than $90 billion in just five years, will become a trillionaire by 2028, and his wealth will have to continue to grow at an average annual rate of 112%. Nvidia shares are already up about 115% this year, after more than tripling last year.
In fourth place is Prajogo Pangestu from Indonesia, founder of the country’s energy and mining company Barito Pacific. At his current wealth growth rate, Pangestu is expected to join the trillionaires list by 2028.
In fifth place is expected to be Bernard Arnault, CEO of Louis Vuitton Moet Hennessy, who is currently the third richest person in the world with a fortune of nearly $200 billion. Arnault’s luxury empire could lead him to reach $1 trillion by 2030, according to the report, along with Mark Zuckerberg, CEO of Meta, who is also expected to become a trillionaire by 2030.
“Some of the billionaires who seem like strong candidates to quickly reach the four-point club don’t make the top 10,” the report noted. “Jeff Bezos, currently the world’s second-richest person, with a fortune of $200 billion, according to Bloomberg, is listed at No. 12 and won’t become a trillionaire until 2036. Larry Page and Sergey Brin, the founders of Google, are also set to wait 12 years to become trillionaires, though artificial intelligence could accelerate their rise.”
Wealth watchers have certainly been anticipating the first “trillionaire” for years.
Given the volatility and economic conditions, the shares of Tesla, Nvidia and Louis Vuitton Moet Hennessy may not rise as rapidly in the next five years as they did in the past five years. However, more than 100 years after the first billionaire, the first trillionaire may be crowned in the next decade, according to the report.
Source: CNBC
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2024-09-08 23:31:29
Who is the first trillionaire in the world
Table of Contents
The Quest for Trillionaire Status: Who Will Reach the Milestone First?
On September 29, 1916, John D. Rockefeller made history by becoming the world’s first billionaire. Fast forward to the present, and the question on everyone’s mind is: who will be the first to reach trillionaire status? With at least six companies having already surpassed the $1 trillion mark, the focus has shifted to individual billionaires. In this article, we’ll delve into the latest predictions and rankings of the top contenders vying for the title of the world’s first trillionaire.
The Top 10 Contenders
According to a report by Informa Connect Academy, Elon Musk, the CEO of Tesla, is currently the most likely candidate to reach trillionaire status. With a fortune of $251 billion and an average annual growth rate of 110%, Musk is expected to join the trillionaires’ club by 2027 [[3]]. Gautam Adani, founder of the Adani Holding Group, ranks second, with a predicted trillionaire status by 2028, given his current growth rate of 123%. Jensen Huang, CEO of Nvidia, takes the third spot, with a projected trillionaire status by 2028, contingent on maintaining an average annual growth rate of 112% [[3]].
The rest of the top 10 contenders include Prajogo Pangestu, founder of Barito Pacific, Bernard Arnault, CEO of Louis Vuitton Moet Hennessy, Mark Zuckerberg, CEO of Meta, and other notable billionaires. While Jeff Bezos, currently the world’s second-richest person, and Larry Page and Sergey Brin, founders of Google, are strong candidates, they are projected to reach trillionaire status later, in 2036 and 2038, respectively [[3]].
The Path to Trillionaire Status
Reaching trillionaire status requires an unprecedented level of wealth growth. To put this into perspective, Elon Musk’s fortune would need to grow by approximately 400% to reach the trillion-dollar mark. Given the rapid pace of technological advancements and the dominance of tech companies, it’s no surprise that many of the top contenders hail from the tech industry.
The Rise of Tech Billionaires
The likes of Apple, Microsoft, Nvidia, Alphabet, Amazon, and Meta have already reached the $1 trillion mark as companies [[2]]. It’s only a matter of time before their respective CEOs and founders join the trillionaires’ club. The tech industry’s immense growth potential, coupled with its leaders’ vision and innovative spirit, make them strong contenders for the title of the world’s first trillionaire.
Conclusion
The quest for trillionaire status is an intriguing one, with many billionaires vying for the top spot. While predictions are subject to change, one thing is certain – the world will soon witness the dawn of a new era of trillionaires. As the tech industry continues to shape the global economy, it’s likely that its leaders will be among the first to reach this unprecedented milestone. Who will be the first to join the trillionaires’ club? Only time will tell.
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The Quest for Trillionaire Status: Who Will Reach the Milestone First?
On September 29, 1916, John D. Rockefeller made history by becoming the world’s first billionaire. Fast forward to the present, and the question on everyone’s mind is: who will be the first to reach trillionaire
