The current estimated net worth of the world's richest individual, Elon Musk, stands at $263 billion, with an average annual growth rate of 129 percent. This suggests that his net worth could potentially reach one trillion dollars in as little as two years, by the time he turns 52.
This projection was recently outlined in a report published by the software company Tipalti Approve, which analyzed historical data from Forbes.
Musk utilized the $180 million he received from the sale of PayPal to finance his new ventures, SpaceX and Tesla.
Musk's substantial wealth is largely derived from his 23 percent stake in Tesla, the world's most renowned electric vehicle manufacturer. Additionally, SpaceX generates significant revenue by providing commercial and government clients with transportation services for ISS supplies, satellites, and personnel into orbit.
Elon Musk's fortune surged from $25 billion in 2020 to $263 billion in 2022, primarily due to the success of Tesla and SpaceX.
The Adani Group, a commodities trading company owned by Gautam Adani and his family, ranks among India's most successful businesses. At his current growth rate of 121 percent, Adani could potentially become a trillionaire in 2025, at the age of 63, just one year after Musk.
Zhang Yiming, who is only 38 years old, is the founder and chairman of Beijing ByteDance Technology Co., one of the world's most valuable startups. It's anticipated that Zhang Yiming's company will propel him to trillionaire status in 2026, by the age of 42.
Zhang Yiming is predicted to become the youngest trillionaire, achieving this milestone by 2026 at the age of 42, with an average annual net gain of 123 percent.
Out of the top ten projected trillionaires, six are expected to work in the technology sector, making it the industry most likely to create trillionaires. For instance, Jeff Bezos, the founder of Amazon, ranks sixth and may become a trillionaire by 2030.
Bernard Arnault, Chairman and Chief Executive Officer of the luxury goods company Mot Hennessy Louis Vuitton (LVMH), is anticipated to become the sole trillionaire in the fashion sector by 2029.
In April, Musk agreed to pay $44 billion for the social media network Twitter. However, he indicated in May that the acquisition would be delayed until he received more information on the number of bogus accounts on the platform.
Statista projects that by the end of 2022, 329 million people will be using Twitter, and the platform will be valued at more than $30 billion. Therefore, Musk's acquisition of Twitter has the potential to expedite the pace at which he attains billionaire status, contingent on the platform's future development.
Acquisitions have also played a significant role in Musk's accumulation of wealth. In the past six years alone, Tesla has acquired companies such as SolarCity Corp., Maxwell Technologies Inc., Grohmann Engineering GmbH, Perbix Machine Co., Inc., and Hibar Systems Ltd., all of which are major enterprises contributing substantially to his fortune.