Report: Musk to be world’s first trillionaire, another Texan to follow:- Tesla CEO Elon Musk, whose recent business ventures include continued negotiations to purchase Twitter for $44 billion
And opening a Tesla gigafactory in Austin could become the world’s first trillionaire as early as 2024, according to a report from software company Tipalti Approve.
The company predicted Musk’s wealth will exceed the $1 trillion mark by comparing his current net worth, which is $263 billion, with his year-over-year income growth since 2017.
While Musk was not born in Texas, his footprint is all over the Lone Star State with The Boring Company being headquartered in Austin, SpaceX having a launch facility in Brownsville, and now Tesla producing vehicles in the state capital. The businessman has also been offered free land to move Twitter from San Francisco to Texas.
Elon Musk’s move to Texas was first reported in early December 2020, when it was revealed that he had relocated from California to a home he had purchased in Austin.
Later that month, during an interview with The Wall Street Journal, Musk confirmed the move, citing his frustration with California’s regulatory environment as the reason for the move.
In recent months, however, Elon Musk has suggested that he may not actually own a house in Texas and has instead been staying in various temporary locations.
During a February 2021 appearance on the Joe Rogan Experience podcast, Musk stated that he had been “couch surfing” and staying with friends in the area.
He also mentioned that he had sold all of his properties in California, including his primary residence in the Bel-Air neighborhood of Los Angeles. In a subsequent tweet, Musk indicated that he had not yet found a permanent home in Texas, stating that he was “renting a house now in Boca Chica/Dogecoinville.”
Despite this, Musk has continued to make significant investments in Texas, including the construction of a new Tesla factory in Austin and the ongoing development of SpaceX’s Starship spacecraft at the company’s facilities in Boca Chica.
Musk’s net worth is currently about equal to the entire GDP of the Czech Republic, a central European country with a population of 10.7 million, according to data from the World Bank.
Were Musk, or any other billionaire, to reach the $1 trillion mark, their wealth would be more than the GDP of the Netherlands, a country with 17.4 million people and home to popular tourist destination Amsterdam.
As of 2021, the total net worth of all billionaires in the world was estimated to be around $13.1 trillion, which represents about 15.4% of the world’s GDP. If a single individual were to become a trillionaire, their net worth would represent around 1.17% of the world’s GDP, as you mentioned.
Another Texan businessman, Dell Technologies CEO Michael Dell, is predicted to become a trillionaire by 2033, the report said. Dell is a Houston native and his company is headquartered in the Austin-area suburb of Round Rock.
Those predicted to become trillionaires after Musk includes commodity trading business Adani Group Chairman Gautam Adani in 2025 and ByteDance Technology Co., which owns TikTok, founder, and Chairman Zhang Yiming in 2026.
Of the 30 richest people in the world, 21 “realistically have a chance” to become a trillionaire at some point in their lifetimes, the report said.
Other notable potential trillionaires include Louis Vuitton CEO Mukesh Ambani (2029), Amazon CEO Jeff Bezos (2030), Google co-founder Larry Page (2032), L.A. Clippers owner and former Microsoft CEO Steve Balmer (2032), Facebook CEO Mark Zuckerberg (2034), Oracle CEO Larry Ellison (2036) and Microsoft co-founder Bill Gates (2044).
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