Newspapers throughout the nation broke the news of the world’s first billionaire on September 29, 1916, an achievement in riches that was previously believed to be unattainable.
The headline read, “Standard (Oil) at $2,014 makes its head a billionaire,” and Standard Oil’s share price shot up, “making John D. Rockefeller, founder and largest shareholder, almost certainly a billionaire.”
Who will be the first American to become a trillionaire is still a fascinating subject, more than a century after the country’s first billionaire (in quantifiable currency terms). It has been accomplished by at least six businesses, the most recent being Berkshire Hathaway, which hit $1 trillion just before Warren Buffett turned 94. Nvidia this year broke into the 13-figure club and is currently valued at $2.6 trillion.
What about people individually? Elon Musk, the CEO of Tesla, is expected to be the first trillionaire, according to a new analysis from Informa Connect Academy. The report bases its prediction of trillionaire status on the average yearly increase rate in wealth.
With $251 billion, Musk is presently the richest person in the world, according to the Bloomberg Billionaires Index. According to Connect Academy, Musk is expected to reach the status of trillionaire by 2027, provided that his fortune increases at a rate of 110% each year on average.
The founder of the Adani Group conglomerate in India, Gautam Adani, is expected to be the second person to achieve trillionaire rank, according to the article. Adani will become a trillionaire by 2028, according to the estimate, if he continues to expand at his current pace of 123% annually.
The survey predicted that by 2028, Jensen Huang, the CEO of Nvidia, who has seen his wealth soar from $3 billion to over $90 billion in only five years, will become a trillionaire. He would need to keep his wealth increasing at a pace of 112% every year on average. In the past year, Nvidia’s stock tripled in value; it has already increased by over 115% this year.
Prajogo Pangestu, an Indonesian who founded the mining and energy company Barito Pacific, comes in at number four on the list. According to the research, Pangestu may become a trillionaire by 2028.
Bernard Arnault, the CEO of LVMH and presently the third richest person in the world with little under $200 billion, completes the top five. Both the luxury king and Meta CEO Mark Zuckerberg are predicted to become trillionaires by 2030.
Not all of the top billionaires make the top 10, despite being obvious contenders to join the four-comma club in the near future. Listed at number 12, Jeff Bezos is presently the second richest person in the world, with $200 billion, according to Bloomberg. He won’t become a trillionaire until 2036. The Google founders, Larry Page and Sergey Brin, are expected to wait another 12 years to become trillionaires, while AI might hasten their ascent.
True, observers of wealth have long anticipated the arrival of the first trillionaire. Furthermore, it’s possible that the stock prices of Tesla, Nvidia, and LVMH won’t rise as quickly as they have during the last five years.
However, the first trillionaire may emerge in the upcoming ten years, almost a century after the first billionaire.
