As early as two years, the world could meet the world’s first billionaire personaccording to a new Tipalti Approve study of the world’s richest people.
The name of this potential billionaire is related to the rise of the electric vehicle industry and the new space race.
Elon Musk, the founder and owner of Tesla and SpaceXwould be, according to this study, the first person in the world to reach a wealth of more than one billion dollars.
The date calculated from the annual net worth of wealth of the world’s richest people would be as early as 2024, according to Tipalti Approve’s average annual growth trends.
Elon Musk’s wealth has skyrocketed in recent years and His net worth is currently valued at around $263 billion.with a tendency to continue growing.
Musk’s accumulation of wealth is underpinned by his companies having massive contracts with US government agencies, primarily to fly people and things into space.
“SpaceX generates massive revenue by charging government and commercial customers to send various things into space, including satellites, supplies from the International Space Station and people”, exposes the study.
Under the rate of growth of its assets, Musk’s wealth will continue to grow with the profitability generated by Tesla and SpaceX’s space thrust.
“Since 2017, Musk’s fortune has shown an average annual increase of 129%which could lead him to enter the billions club in just two years, achieving a net worth of $1.38 billion by 2024at 52 years old”, projects the report.
If the projections are fulfilled, Musk would be the only member of the club of billionaires for two years.
It would be until 2026, with the founder of the parent company of the popular app TikTok, Zhang Yiming, would overtake him as the world’s youngest billionairejust 42 years old.
However, the company responsible for the study clarified that projections can change very quickly on the wealth of these entrepreneursso the classification can change very easily.
As an example of the above, they cited the case of the businessman who owns the Nongfu Spring bottled water company, Zhong Shanshan, whose fortune skyrocketed in just two years from $2 billion to $71 billion.
Another example of this type of unexpected movement is that of Jeff Bezos, founder of Amazon and the best-known rival, in business terms, of Elon Musk.
In 2017, Bezos was the first person to reach the $100 billion milestone since 1999.when Microsoft founder Bill Gates did.
It seemed that Bezos would then be the first person to inaugurate the billionaires’ club; however, it was not so, and Amazon founder is now projected to make it through 2030.
You may also like:
– Elon Musk donated $5.7 billion in Tesla stock to charity
– Amazon to allocate $120 million to build affordable homes near public transit stops
– Elon Musk offers to save the International Space Station with a millionaire investment if Russia decides to abandon its part