Elon Musk set to be world's 1st trillionaire, second could be an Indian

Tesla CEO Elon Musk is on track to become the world’s first trillionaire by 2027, according to a new report by Dubai-based Informa Connect Academy.

With his wealth growing at an impressive annual rate of over 110%, Musk’s fortune has reached a staggering $241 billion, as per Bloomberg’s billionaire index. Following closely behind, Indian industrialist Gautam Adani is poised to be the second person to hit the trillionaire mark, potentially reaching the milestone by 2028.

Adani’s wealth has been increasing at a remarkable rate of 123% annually. Other billionaires like Nvidia founder Jensen Huang, Meta CEO Mark Zuckerberg, and LVMH’s Bernard Arnault are also expected to cross the trillion-dollar threshold by 2030.

India's wealth boom has been in the spotlight recently, with two reports underscoring the nation’s rapid rise in wealth creation. A Fortune India report revealed that the combined wealth of the country’s richest individuals has surged past $1 trillion, reaching $1.19 trillion (Rs 99.86 lakh crore), with 185 dollar billionaires.

Leading the pack are Gautam Adani and Mukesh Ambani, each with wealth exceeding Rs 10 trillion. Close behind is the Shapoorji Pallonji family, with a combined fortune of Rs 3,64,932 crore.

According to the Hurun India Rich List 2024, India has been minting a new billionaire every five days throughout 2023, adding 1,539 ultra-wealthy individuals with fortunes of more than Rs 1,000 crore.

Meanwhile, the Bloomberg real-time index places Ambani as the richest Asian, with $111 billion, followed by Adani at $99.6 billion.