close video Elon Musk thinks Tesla can be a $20 trillion company: Kyle Wool
Dominari Financial CEO Kyle Wool analyzes Tesla and provides his outlook for Big Tech earnings on ‘Varney & Co.’
Elon Musk could become the first trillionaire within the next couple of years, according to a new report.
Informa Connect Academy identified Musk, the CEO of Tesla, SpaceX and X, as the "clear favourite" to amass a 13-figure net worth before any other billionaires in a recently released report.
Elon Musk arrives at the Breakthrough Prize Ceremony at the Academy Museum of Motion Pictures in Los Angeles on April 13, 2024. (Etienne Laurent/AFP via / Getty Images)
Musk, who is worth $241.8 billion, according to Forbes, could reach a staggering new level of wealth by 2027 thanks to how quickly his net worth increases each year, the report estimated.
ELON MUSK PREDICTS CREWED SPACEX FLIGHTS TO MARS BY 2028, HOPES FOR ‘SELF-SUSTAINING CITY’ ON PLANET
His personal fortune climbs nearly 110% each year on average, Informa Connect Academy found.
Elon Musk attends “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk: session during the Cannes Lions International Festival of Creativity 2024 on June 19, 2024, in Cannes, France. (Marc Piasecki / Getty Images)
The tech leader became a billionaire in 2012 and has since seen his net worth swell to the largest of any in the world, according to Forbes.
Some others may not be far behind Musk in becoming trillionaires.
The net worth of three billionaires – Adani Group Chairman Gautam Adani, Nvidia CEO Jensen Huang and Barito Pacific founder Prajogo Pangestu – could each breach the threshold in 2028, Informa Connect Academy predicted. Their net worth has each reportedly averaged more than a 100% increases each year.
LVMH CEO Bernard Arnault is likely to do so two years later.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The report also forecast companies whose market capitalizations could soon climb to at least $1 trillion and make them among the handful of firms to have already accomplished that feat.
It ranked Taiwan Semiconductor Manufacturing Co. at No. 1, predicting a trillion-dollar market cap for the company next year.
Eli Lilly, Broadcom and Tesla were among the other firms that the Informa Connect Academy report projected would see their market cap hit $1 trillion in 2025.
TRUMP SAYS HE'LL ASK ELON MUSK TO LEAD GOVERNMENT EFFICIENCY COMMISSION IF HE WINS ELECTION
Tesla Model Y and Model 3 are seen on display at a store in Tokyo. (Stanislav Kogiku/SOPA Images/LightRocket via / Getty Images)
