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- Elon Musk is projected to become a trillionaire by 2027, per Informa Connect Academy.
- The report's predictions are based on an individual's annual wealth growth rate.
- Musk's wealth, which is closely tied to his Tesla stake, has fluctuated over the past few years.
Elon Musk is on track to become the world's first trillionaire, according to a new report from Informa Connect Academy.
According to Bloomberg's Billionaires Index, the Tesla CEO is currently the world's richest person, with a net worth of $237 billion.
The report's predictions are based on an individual's average annual wealth growth rate. If Musk's wealth continues to grow at an annual rate of 110%, the report predicts he will be the first person to achieve trillionaire status by 2027.
Eight companies have attained a trillion-dollar market cap valuation so far, but no individuals have reached the financial milestone.
Nvidia CEO Jensen Huang, Adani Group founder Gautam Adani, and Barito Pacific founder Prajogo Pangestu are all predicted to reach trillionaire status a year after Musk if they keep up their current growth rates.
Meta's Mark Zuckerberg is predicted to pass the trillion-dollar mark in 2030, according to the report.
Musk's wealth, which is closely tied to his 20.5% stake in Tesla, has fluctuated considerably over the past few years. Tesla's stock slid by 7% earlier this year following the automaker's weaker-than-expected vehicle deliveries.
The stock drop wiped billions off Musk's personal fortune, which he later recouped after a successful trip to China in April.
While his net worth is up $7.73 billion from last year, per Bloomberg's Billionaire Index, he's still less rich than in 2021, when his fortune was estimated at around $340 billion.
Musk has also had a difficult year at his other companies, including X. The social media platform has struggled to attract advertising revenue following some of Musk's controversial changes and cost cuts.
Advertisers who jumped ship from the platform after the Tesla CEO officially bought it in late 2022 have been slow to return. Earlier this year, asset manager Fidelity said the company is worth 71% less than when Musk took over.