Elon Musk on track to become the world's first trillionaire by 2024
Tesla and SpaceX CEO Elon Musk is poised to become the world's first trillionaire, and it could happen as soon as 2024.
Based on Forbes' real-time billionaires list, Musk sits on top of the wealthiest persons list with a net worth of $203.3 billion. A study by software company Tipalti Approve predicts that he will reach the $1 trillion mark in a few years.
"Since 2017, Musk's fortune has shown an annual average increase of 129%, which could potentially see him enter the trillion-dollar club in just two short years, averaging a net worth of $1.38 trillion by 2024 at age 52," it read.
The billionaire is currently on track to add the social media platform Twitter to his long list of owned companies, which also include Neuralink, OpenAI, DeepMind Technologies, and SolarCity.
Meanwhile, Tesla and SpaceX continue to revolutionize the transportation and space tourism industry. Both companies combined saw Musk's fortune soar from $25 billion in 2020 to $263 billion in 2022.
Other tech moguls like TikTok founder Zhang Yiming, Amazon founder Jeff Bezos, and Microsoft co-founder Bill Gates are projected to follow in Musk's footsteps from 2025 until 2044.