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SA-born entrepreneur Elon Musk could become a trillionaire in 2024 - who else is in the running

SA-born entrepreneur and billionaire Elon Musk could be the first person to accumulate a trillion net worth, according to a study by Tipalti Approve. Picture: AP Photo/Jae C. Hong, File

SA-born entrepreneur and billionaire Elon Musk could be the first person to accumulate a trillion net worth, according to a study by Tipalti Approve. Picture: AP Photo/Jae C. Hong, File

Published Apr 5, 2022

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SA-born entrepreneur and billionaire Elon Musk could be the first person to accumulate a trillion net worth, according to a study by Tipalti Approve.

The Tesla and SpaceX CEO, who is currently the richest person in the world, could have a trillion net worth as early as 2024.

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Here’s a closer look at Elon Musk’s net worth as well as the club of the world’s top five billionaires that he belongs to.

1. Elon Musk, 50

Net worth: $287.6 billion (R4.18 trillion)

Elon Musk is the CEO of electric car maker Tesla and rocket producer. The entrepreneur who grew up in South Africa stepped down from the role of Tesla chairperson in 2018.

Musk’s net worth sky-rocketed from $24.6 billion in 2020 to $151 billion in 2021.

Recently, the SpaceX founder bought a 9.2% stake in Twitter for $2.9 billion, making Musk the largest stakeholder in the social media company.

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2. Jeff Bezos, 58

Net worth: $189.3 billion

Jeff Bezos is currently the founder and chairperson of e-commerce platform Amazon. Bezos stepped down as CEO of the company in 2021 and was replaced by Andy Jassy, the current CEO of Amazon.

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He also owns The Washington Post and aerospace company Blue Origin.

Last year, Blue Origin sent a four man crew into space on the New Sheperd rocket. Jeff Bezos was one of the four men on the rocket.

In 2020 with the onset of the Covid-19 pandemic, revenues for Amazon grew by 38%.

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Bezos and his wife Mackenzie divorced after 25 years of marriage and transferred a quarter of his 16% Amazon stake to her.

3. Bernard Arnault (73) and family

Net worth: $175.5 billion

Bernard Arnault is the CEO and chairperson of LVMH Moet Hennessy Louis Vuitton.

Arnault oversees a of variety brands ranging from fashion and jewellery to perfumes and cosmetics. Some of the names of the brands include Christian Dior, Bulgari, Moet Chandon and Givenchy.

Last year, LVMH completed a $15.8 billion deal for American jeweller Tiffany & Co.

4. Bill Gates, 68

Net worth: $133 billion

Bill Gates, co-founder of the Bill and Melinda Gates Foundation, made his fortune as the co-founder of the software company Microsoft. During his time at the software firm, Gates held various positions, including president, chairperson and chief executive.

In 2020 when Gates stepped down from the Microsoft board, he owned around 1% of the company’s shares.

The Microsoft co-founder has invested in multiple companies and is one of the largest owners of farmland in the United States.

5. Warren Buffett, 91

Net worth: $125.9 billion

Warren Buffett is the CEO of Berkshire Hathaway and is known as one of the most successful investors.

Berkshire Hathaway owns Geico and Duracell as well as minority holdings companies such as American Express and Apple.

In 2020, Buffett’s net worth dropped to $67.5 billion dollars.

The multi-billionaire plans to donate 99% of his wealth.

IOL Wealth

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