Elon Musk may become first trillionaire in the world, followed by Gautam Adani: Report

The Tesla founder is currently the richest man in the world, and his net worth, which is growing at an average annual rate of 109.88%, is on track to reach the $1 trillion mark in the next three years, according to the report.

The report titled ‘2024 Trillion Dollar Club’ highlights a list of thirty billionaires who are on the path of becoming trillionaires by approximately the mid-century; the report also puts a spotlight on companies with market valuations exceeding $1 trillion or approaching that milestone.

Trillionaires Club

The study said, “No one in the world has claimed trillionaire status—at least not yet. However, there are some likely candidates. The following are multi-billionaires who will probably become trillionaires sooner or later.”

Gautam Adani, the founder and chairperson of the multinational conglomerate, Adani Group, is the second richest person in India and the 13th richest in the world.

His company, Barito Pacific, is into petrochemicals, energy, real estate, logistics, and investments, among other interests, and in 2007, it acquired 70% of Chandra Asri, a petrochemicals company with a current market cap valuation greater than $48 billion as per the report.

With a current net worth of $33.8 billion, Prajogo Pangestu is the richest man in Indonesia. His net worth has been growing at an annual average rate of 135.95%.

With an astronomical net worth of $181 billion, coupled with a net worth annual average growth rate of 29.33%, the third richest man on Earth is on course to reach $1 trillion in wealth by 2030, according to the report.

Women’s club

Out of the thirty billionaires mentioned in the report, three women are at the helm of reaching the $1 trillion mark by the middle of the twenty-first century, the report highlighted.

Trillion-dollar companies

The report also showcases a list of companies that have reached a market valuation of $1 trillion and those that are on track to reach that valuation.

Currently, there are only a handful of companies that have crossed the $1 trillion in valuation as per the report. This includes Microsoft, Nvidia, Apple, Alphabet, Amazon, Saudi Aramco, and Meta. The most recent case is that of Warren Buffett's Berkshire Hathaway in late August.

Taiwan Semiconductor Manufacturing Company (TSMC), Eli Lilly, Broadcom and Tesla are the top brands nipping at the heels of the $1 trillion valuation, which they’re expected to reach by 2025.

While there has been an ever-present fascination with the opulence of the wealthy, which can be dated back to the days of empires or when the world got its first billionaire in 1916, John D. Rockefeller, the top 1% of society does not just symbolise the crème de la crème of grandeur but also presents a rather stark image of the widening gap between the rich and the poor.

According to a research paper released by Oxfam in February 2024, 60% of the people in the world have grown poorer—equating to almost 5 billion people.

Further, the rich 1% of the world’s population snap up 52% of all income while the poorer half gets about 8.5%, an IMF report stated.