Tesla CEO Elon Musk, whose recent business ventures include continued negotiations to purchase Twitter for $44 billion and opening a Tesla gigafactory in Austin, could become the world’s first trillionaire as early as 2024, according to a report from software company Tipalti Approve.
The company predicted Musk’s wealth would exceed the $1 trillion mark by comparing his current net worth, which is $263 billion, with his year-over-year income growth since 2017.
While Musk was not born in Texas, his footprint is all over the Lone Star State with The Boring Company being headquartered in Austin, SpaceX having a launch facility in Brownsville and now Tesla producing vehicles in the state capital.
The businessman has also been offered free land to move Twitter from San Francisco to Texas.
In late 2020, Musk confirmed that he had moved to Texas, and in recent months, the businessman has stated that he does not own a house in Texas and mostly stays in the spare bedrooms of friends.
According to data from the World Bank, Musk’s
net worth is currently about equal to the entire GDP of the Czech Republic, a central European country with a population of 10.7 million. Were Musk, or any other billionaire, to reach the $1 trillion mark, their wealth would be more than the GDP of the Netherlands, a country with 17.4 million people and home to popular tourist destination Amsterdam.
With the current world GDP valued at $84.75 trillion according to the World Bank, anyone reaching trillionaire status would have a net worth that is 1.17% of the entire world’s GDP.
Another Texan businessman, Dell Technologies CEO Michael Dell, is predicted to become a trillionaire by 2033, the report said. Dell is a Houston native, and his company is headquartered in the Austin-area suburb of Round Rock.
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