• iconNews
  • videos
  • entertainment
  • Home
  • News
    • UK News
    • US News
    • Australia
    • Ireland
    • World News
    • Weird News
    • Viral News
    • Sport
    • Technology
    • Science
    • True Crime
    • Travel
  • Entertainment
    • Celebrity
    • TV & Film
    • Netflix
    • Music
    • Gaming
    • TikTok
  • LAD Originals
    • Say Maaate to a Mate
    • Daily Ladness
    • Lad Files
    • UOKM8?
    • FreeToBe
    • Extinct
    • Citizen Reef
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube

LAD Entertainment

YouTube

LAD Stories

Submit Your Content
Elon Musk Set To Become The World's First Trillionaire By 2024

Home> News

Updated 07:22 14 Jun 2022 GMT+1Published 05:35 14 Jun 2022 GMT+1

Elon Musk Set To Become The World's First Trillionaire By 2024

The richest man alive is about to get even richer.

Rachel Lang

Rachel Lang

Elon Musk is on the brink of becoming the world's first and founding member of the trillionaire's club.

So far, he's only banked a paltry wealth of around $200 billion (AU $288bn, £164bn).

But, Tipalti Approve has forecast that he's on track to achieve trillionaire status by 2024.

Advert

Using historical data provided by Forbes, Approve crunched some numbers - some very big numbers, we might add - to determine Musk's fortune is only going to skyrocket upward.

"The world’s richest person, Elon Musk, has an estimated net worth of $263 billion (AU $377 billion, £215 billion), as of January 19 2021, according to Forbes," Approve's report reads.

We'd be smiling too, if we were him.
REUTERS / Alamy Stock Photo

"Since 2017, Musk’s fortune has shown an annual average increase of 129 percent, which could potentially see him enter the trillion dollar club in just two short years, achieving a net worth of $1.38 trillion (AU $1.98 billion, £1.13 trillion) by 2024 at age 52."

Now that is incredible - and, no, he hasn't figured out the real life cheat code to money à la The Sims.

Advert

That being said: Musk, if you are reading this and you do have a 'motherlode' hack or something similar, please do share. We won't tell anyone, we promise.

Approve then went into a bit of detail about how he has amassed such an impressive level of wealth.

"As the saying goes, you need to spend money to make money," Approve's report reads.

"Musk sank the funds from his sale of PayPal, roughly $180 million (AU $258 million, £147 million) into his new companies Tesla and SpaceX.

"Tesla manufactures and sells electric cars, and with a 23 percent stake in the company, contributes significantly to Musk’s immense wealth."

Advert

Thinking about that trillion, probably.
REUTERS / Alamy Stock Photo

The report also explained how Musk's wealth was sent into overdrive by his spacecraft engineering company.

"SpaceX generates massive incomes by charging governmental and commercial clients to send various things into space, including satellites, International Space Station supplies, and people," Approve said.

"These two companies combined saw Musk’s fortune soar from $25 billion (AU $35.8 billion, £20.5 billion) in 2020 to $263 billion (AU $377 billion, £215 billion) in 2022."

Approve calculated Musk's average yearly growth rate by percentage and then extrapolated that data to give predictions over the next three decades.

Advert

But he has a few other billionaire bros snapping at his heels.

Approve also projects Indian industrialist and philanthropist Gautam Adani to achieve trillionaire status by 2025, followed by TikTok investor Zhang Yiming in 2026.

That being said, Musk lost more money this year than most people will make in their lives.

So this race to the trillion dollar mark is certainly one to watch.

Featured Image Credit: DPA picture alliance / Alamy Stock Photo. REUTERS / Alamy Stock Photo.

Topics: Elon Musk, News, Money

Rachel Lang
Rachel Lang

Rachel Lang is a Digital Journalist at LADbible. During her career, she has interviewed Aussie PM Malcolm Turnbull in the lead up to the 2016 federal election, ran an editorial campaign on the war in Yemen, and reported on homelessness in the lead-up to Harry and Meghan’s wedding in Windsor. She also once wrote a yarn on the cheese and wine version of Fyre Festival.

X

@rlangjournalist

Advert

Advert

Advert

Choose your content:

8 hours ago
9 hours ago
10 hours ago
  • 8 hours ago

    Donald Trump speaks out after Iran attacks on US airbases

    The US president posted on Truth Social

    News

    breaking

  • 8 hours ago

    NASA's Voyager 1 has just found a 50,000 Celsius 'wall of fire' at the edge of the solar system

    It's the furthest reaches of our solar system, but it helps protect us

    News
  • 9 hours ago

    Everything we know about Iranian attack on US airbases in Qatar and Iraq as videos show missiles in the air

    The strikes from Iran follow the three from the US on Saturday (21 June)

    News
  • 10 hours ago

    Inside $2,100,000,000 US stealth bomber made of 'radar absorbing' material making it impossible to detect

    The US used six B-2 Spirit stealth bombers in their strikes on three targets in Iran

    News
  • Elon Musk on track to become world's first person to have $1,000,000,000,000 net worth by 2027
  • Horror footage shows SpaceX Starship exploding into giant fireball at Elon Musk site
  • Elon Musk admits regret after dropping 'really big bomb' claim on Donald Trump during social media spat
  • How Elon Musk has lost £41,000,000,000 since the start of 2025