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Elon Musk on pace to become world’s first trillionaire by 2027, report says (www.theguardian.com)

submitted 2 months ago by girlfreddy@lemmy.ca to c/world@lemmy.world

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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%.

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[-] yourNewFavouriteUser@sh.itjust.works 19 points 2 months ago

I genuinely wonder how this creep keeps failing upward

[-] CanadaPlus@lemmy.sdf.org 6 points 2 months ago* (last edited 2 months ago)

Investment-wise, luck. If you had 100 billion and put it all on one risky stock, you too could fail upwards, around half the time.

Public persona-wise, he's basically a professional media villain. He's invited to comment and interview on things because it will always get clicks, even if they're hate clicks.

[-] LustyArgonianMana@lemmy.world 6 points 2 months ago

If you are ever confused about how someone magically is making stuff work for them - it means you're missing information. Maybe that's because the other person is lying or doing something illegal. I would guess Musk has some very interesting deals going on with places like Saudi Arabia.

[-] phx@lemmy.ca 4 points 2 months ago

"sink Twitter and we'll give you some preferential deals"

[-] AlexanderESmith@social.alexanderesmith.com 1 points 2 months ago

I've suspected from the beginning that he was trying to kill twitter intentionally.

[-] Honytawk@lemmy.zip 3 points 2 months ago

Pays a good PR team.

Will still take a while before his real antics reach the mainstream masses.

[-] Angry_Autist@lemmy.world 2 points 2 months ago

In higher circles, wealth is considered a measure of competence.

It is a core tenet of capitalism: "Well if he's such a bad businessman, why is he so rich?"

One of the ways they hide their incompetence is buying the talents of other, actually skilled people.

Another is ostentatious displays of wealth to impress other members of the owner class of your absolute flushness of cash and calmness of mind to keep faith in whatever your schemes are this week to stay relevant

Billionaires should not exist, and a trillionaire is simple an abomination

[-] winkerjadams@lemmy.dbzer0.com 2 points 2 months ago

🤑

this post was submitted on 08 Sep 2024

115 points (72.9% liked)

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