A new study from Tipalti Approve compared the annual net worth of the world's wealthiest people, predicting how soon they will reach a personal valuation of one trillion dollars. Elon Musk will be the first to reach the milestone — as quickly as 2024, based on analysis of average yearly growth trends.
Musk currently boasts a net worth of around $200 billion, the highest of any living human. By mid-January of this year, that figure stood at $263 billion. Musk’s profitable work at Tesla (TSLA) is only one contributor to his vast wealth; it is his SpaceX project which has pushed his net worth into the twelve-figure range.
“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, achieving a net worth of $1.38 trillion by 2024 at age 52,” the Approve report found. “SpaceX generates massive incomes by charging governmental and commercial clients to send various things into space, including satellites, ISS supplies, and people.”
Other moguls on the list include Gautam Adani, the chairman and founder of the Indian conglomerate Adani Group (ADANIENT), Microsoft (MSFT) founder Bill Gates, chairman and founder of Beijing ByteDance Technology Co. Zhang Yiming, and former Amazon (AMZN) CEO Jeff Bezos.