In addition to world’s richest person, who has $251bn, report names others on track to receive trillionaire status

Elon Musk is on pace to become the world’s first trillionaire by 2027, according to a new report from a group that tracks wealth.

Informa Connect Academy’s finding about the boss of electric carmaker Tesla, private rocket company SpaceX and social media platform X (formerly Twitter) stems from the fact that Musk’s wealth has been growing at an average annual rate of 110%. He was also the world’s richest person, with $251bn, according to the Bloomberg Billionaires Index, as the academy’s 2024 Trillion Dollar Club report began circulating Friday.

The academy’s analysis suggested business conglomerate founder Gautam Adani of India would become the second to achieve trillionaire status. That would reportedly happen in 2028 if his annual growth rate remains at 123%.

  • CanadaPlus@lemmy.sdf.orgEnglish
    1·
    2 months ago

    It’s not like you can buy too much of an earning stock. I’m pretty sure elasticity approaches zero quickly if someone is dumping a well-known, profitable company. It might induce some paranoia, but big investors don’t get to where they are by panicking often.

    By the way, TSLA has a P/E ratio in the 60’s so it’s not exactly a great deal anyway.

    Depends. Amazon doesn’t even have one; tech stocks are often driven by future potential. I wouldn’t buy a car from them though.