The tech entrepreneur’s wealth amounts to $251 billion. A study warned that the richest 1% of the world’s population is responsible for worsening the climate crisis.
Elon Muskfamous for his leadership in Tesla, SpaceX and social media platform X (formerly Twitter), He is on track to become the world’s first trillionaire by 2027A study by Informa Connect Academy, cited by the British newspaper The Guardian, highlights that Musk’s fortune has grown at an average annual rate of 110%. According to the Bloomberg Billionaires Index, His current wealth is estimated at $251 billion.
Other future competitors
Informa Connect Academy’s “Trillion Dollar Club 2024” report also mentions other entrepreneurs who could reach this staggering figure. Among them is Gautam Adani, head of the Indian industrial conglomeratewho could surpass one trillion dollars in 2028 if it maintains its annual growth rate of 123%. Likewise, Jensen Huang, CEO of Nvidia, and Prajogo Pangestu, energy and mining magnate in Indonesiacould join this club in the same year.
For its part, Bernard Arnault, head of LVMH Moët Hennessy Louis Vuitton and the third richest person on the planet with $200 billion, is also projected to surpass the trillion dollar mark in 2030. Mark Zuckerberg, CEO of Meta, could accompany him that year.
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Growth is not only visible in the richest individuals, but also in some companies. Berkshire Hathaway, led by Warren Buffett, recently reached a valuation of over $1 trillion. Similarly, Nvidia joined the club in May 2023 and reached $3 trillion in June of that same year, ranking alongside Microsoft and Apple among the most valuable companies in the world.
The debate on the concentration of wealth
The spectacular rise in these fortunes has sparked a debate around extreme wealth accumulation and its potential social consequencesAccording to CNBC, ever since John D. Rockefeller became the first billionaire in 1916, there has been a constant interest in who would be the first trillionaire.
However, some experts warn of the risks of excessive concentration of wealth. The richest 1% of the world’s population is responsible for a larger share of carbon emissions than the poorest 66%, exacerbating the climate crisis, a study finds.
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Elon Musk’s recent controversies
In recent months, Musk has been in the eye of the storm for various controversies. Shortly before the Informa Connect Academy report was published, Tesla’s CEO was harshly criticized for share on X a link to an interview between Tucker Carlson and Darryl Cooper. In that conversation, Cooper made controversial comments about the Holocaust, suggesting that the Nazis had no intention of committing mass genocide, which sparked a strong public backlash and led Musk to delete the post.
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In addition to their disputes on social media, Musk has gained attention for his political preferences. Recently, he has expressed his Support for Donald Trump in his race to obtain a second term in the presidential elections, where Kamala Harris, the current Democratic vice president, will also compete.
Source: Ambito
