Report: Elon Musk on track to become world’s first trillionaire by 2027

Eight companies have so far reached a market capitalization of one trillion dollars, but no single company has reached this financial milestone.

Nvidia CEO Jensen Huang, Adani Group founder Gautam Adani and Barito Pacific founder Prajogo Pangestu are all projected to reach trillionaire status a year after Musk if they maintain their current growth rates.

According to the report, Meta’s Mark Zuckerberg is expected to cross the trillion dollar mark in 2030.

Musk’s wealth, which is closely tied to his 20.5% stake in Tesla, has fluctuated considerably in recent years, with Tesla shares slipping 7%. At the beginning of the year after the weaker than expected vehicle deliveries.

The fall in share prices caused Musk’s personal fortune to shrink by billions, which he later got back after a successful trip to China in April.

Although his net worth has increased by $7.73 billion year-on-year, according to Bloomberg’s Billionaire Index, he is Despite it less rich as in 2021, when his net worth was estimated at around $340 billion.

Musk has also had a difficult year for his other companies, including X. The social media platform struggled to generate advertising revenue after some controversial changes and cost-cutting by Musk.

Advertisers who left the platform after the Tesla CEO officially bought it in late 2022 have been slow to return. Earlier this year, asset manager Fidelity said the company was worth 71% less than it was when Musk took over.