A new report on global wealth predicts that Elon Musk is on track to become the world's first trillionaire by 2027

Musk, 53, is currently the richest person in the world with a net worth of $251 billion (£191 billion), according to the Bloomberg Billionaires Index

However, according to the results of the Informa Connect Academy, his wealth is growing at an average rate of 110% annually. This means that if his wealth grows at the same rate, he may win the title of trillionaire within the next three years, according to the results.

The same “Trillion Dollar Club” report for 2024 indicates that Musk’s electric car company Tesla is worth $669.3 billion (£509.7 billion). Its growth rate is also very high, reaching 173.3% annually, according to the Informa Connect Academy, which means that the company alone may exceed one trillion dollars (0.76 trillion pounds sterling) by next year.

Musk's other businesses include spacecraft manufacturer SpaceX, neurotechnology company Neuralink, and The Boring Company, a former subsidiary of SpaceX but now its own tunnel builder

It is not unlikely that the two richest companies in the world, according to the growth report, are Microsoft ($3.4 trillion, or £2.6 trillion) and Apple ($3.3 trillion, or £2.5 trillion). reached the trillion dollar mark in 2019 and 2018 respectively

On the other hand, the Informa Connect Academy estimated that the founder of the Indian business conglomerate Gautam Adani is the second closest person to becoming a trillionaire, with an annual growth rate of 123%, as he is rumored to reach this milestone by 2028

Jensen Huang, CEO of technology company Nvidia, and Indonesian energy and mining tycoon Pragogo Pangest are also expected to become trillionaires by 2028, according to their current trajectories.