Elon Musk set to become world's first trillionaire

 By MySA.com

By Katy Barber,Sr. Digital Content Producer

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas. - Tesla welcomed throngs of electric car lovers to Texas on April 7 for a huge party inaugurating a "gigafactory" the size of 100 professional soccer fields. 

SUZANNE CORDEIRO/AFP via Getty Images

Elon Musk first nabbed the crown for richest man in the world in January 2021 by surpassing fellow billionaire Jeff Bezos in the world's billionaire ranking. On the heel's of SpaceX's world's first private space walk, Musk was revealed to be in the running to add another "world's first" title to his mantle: the world's first trillionaire.

According to the Bloomberg Billionaires Index, Musk is currently the richest man in the world with a total net worth of $268 billion. That figure is up by $38.9 billion year-to-date, and up $3.05 billion dollars from the last update, which takes place at the close of every trading day in New York, the website says.

Bezos is ranked No. 2 at $216 billion and Mark Zuckerberg is No. 3 with $200 billion. The rest of the top five is rounded out by French businessman Bernard Arnault, and American tech leaders Larry Ellison and Bill Gates. 

Informa Connect Academy released its "2024 Trillion Dollar Club" rankings, which includes businesses and individuals who are estimated to reach trillionaire status at some point in the next five to 10 years.

Musk is top of the "from billionaire to trillionaire" list, estimated to become the world's first individual trillionaire by 2027 thanks to SpaceX and Tesla. The other Americans in the list include NVIDIA's Jensen Huang, Meta's Mark Zuckerberg by 2030, Nike's Phil Knight and family by 2030, Dell's Michael Dell, and Microsoft's Steve Ballmer. Heads of Oracle, Amazon, Google and Bloomberg also made the list. 

According to the list, there are seven businesses in the world that have attained a trillion-dollar market cap valuation as of July 2024. The rankings include Microsoft, who comes in first with a valuation of $3.394 trillion, followed by Apple at $3.323 trillion, NVIDIA at 3.057 trillion, Alphabet at $2.269 trillion, Amazon at $2.052 trillion, Saudi Aramco at $1.817 trillion and Meta at $1.280 trillion. 

The report also notes businesses that are "set to hit trillion-dollar status" in 2025, which includes Taiwan's TSMC and American companies Berkshire Hathaway, Eli Lilly, Broadcom, and Musk's Tesla. Texas-based companies were also foreshadowed to hit the trillionaire mark, including: Irving-based Exxon Mobile by 2028 and Chevron, who moved the headquarters to Texas this year, by 2038. 

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