Elon Musk will become the world’s first billionaire in 2024

The Spanish Gross Domestic Product reached 1.2 trillion euros in 2020. Elon Musk could reach that same amount by 2024, compared to the current 277.3 billion. Currently there are nine people in the world with fortunes greater than 100,000 million of euros, and that aspire to reach one billion in a few years, but who will be the first?

Analyzing the annual net income of the 30 richest people since 2017 according to a study by Forbes, the one who has all the ballots to become the first billionaire in the world is precisely Elon Musk, whose fortune has not stopped growing, showing an average annual increase of 129%.

Musk invested the funds he obtained from the sale of PayPal, approximately 163 million euros, in his new companies Tesla and SpaceX. Thanks to this movement and sensing that his income growth remains constant, by the year 2024 Musk will have reached a billion.

Gautam Adani and his family it would take another year than Musk, reaching billionaire status in 2025, at age 62, following his current growth rate. Adani is the chairman of the commodity company Adani Group, founded in 1988, which began with a focus on coal mines, ports and power plants, but has recently diversified into airports, data centers and defense in an attempt to for aligning its business interests with India’s economic development plan, a strategy highly favored by investors in this company.

Third in the ranking to get the billion dollars is Zhang Yiming, president and founder of Beijing Byte Dance Technology Company. Regarded as one of the world’s most valuable startups, ByteDance was founded in 2012 and is now valued at the incredible figure of approximately 66,000 million eurosafter having captured the interest of thousands of people with its content sharing platform TikTok, being the most downloaded mobile application by iOS users during the year 2019.

Ambani and Arnault

Thanks to this platform, Zhang Yiming could obtain the position of a billionaire by the year 2026. Mukesh Ambani and Bernard Arnault are in fourth place on the listwhich would reach the figure of one billion in 2029.

On the one hand, Ambani, at 64, is chairman and managing director of Reliance Industries Limited (RIL), a Mumbai-based multinational conglomerate and one of the most profitable companies in India. RIL is a diverse company, with interests ranging from energy, natural gas, media, petrochemicals to retail, telecommunications and textiles. To increase automation at RIL, Ambani bought an Indian robotics company for more than 130 million dollarsan investment that is likely to increase your profits dramatically in the future.

On the other hand, Bernard Arnault will achieve billionaire status at age 72, five years after Elon Musk. Arnault is the Chairman and CEO of the world’s largest luxury goods company, Moët Hennessy Louis Vuitton (LVMH).

In 2018, the company posted record sales of almost €40 billion, with a 29% increase in net profit. Since then the company has reached a record of more than 280,000 million euros in the year 2021. Its source of income comes from five key operations: wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, and selective retail. This decentralized operational setup allows each LVMH brand to be agile and make its own decisions. Fashion and leather goods account for the largest share of LVMH’s total revenue, growing 39% annually. This is because the brand has established itself as a benchmark when it comes to luxury fashion.

To finish the top 5 candidates for the billion dollars in sixth place is Jeff Bezos, father and majority shareholder of Amazon and SpaceX, as well as The Washington Post newspaper and the aerospace company Blue Origin, which would reach a billion euros in 2030, at about the age of 65. However, there is always the uncertainty that the positions on this list of tycoons will vary from one year to the next, thus generating a 180-degree turn among the candidates, in the event of any major global contingency.