Who Will Be The World’s First Trillionaire?
Trillionaire: Abundance really is a relative perception. Some treat millionaire status as passé—after all, there are about 11.8 million families with millionaire status in the U.S. alone—and these days it takes being a billionaire to get much recognition. On the other hand, there are over two billion people getting by on much less a year.
John D. Rockefeller is held to be the world’s first official billionaire, achieving that status in 1916 generally through his purchase of Standard Oil. From that point nearly a century ago, wealth has multiplied to the point where the richest men in the world finish out at around $50 billion. The investigation is, how long will it take before the world sees its first trillionaire?
One trillion greenbacks is a phenomenal sum of money. In present-day terms, $1 trillion is approximately the nominal GDP of Mexico or South Korea. One trillion dollars is also enough money to purchase ExxonMobil (XOM) and McDonald’s (MCD), with suitable money left to buy Coca-Cola (KO).
Amazon founder Jeff Bezos has outweighed Bill Gates to become the prosperousest person in the world. And he could speedily earn yet another distinction. As CNBC’s Robert Frank reports, Amazon’s share price jumped by more than $15 per share overnight on Wednesday, edging Bezos past Gates. Bezos now has a net account of $90.5 billion, according to Forbes data. Though both Amazon and Microsoft shares could fluctuate in the coming days, Frank predicts that Bezos will presumably earn a perpetual spot at the top of the list as Amazon continues to flourish
And as Bezos’ wealth blimps, he draws closer to becoming the world’s first trillionaire. That’s a feat Oxfam, an international system of organizations working to alleviate poverty, reports could materialize in the next 25 years, given the aggressive prosperity of existing wealth.
When Oxfam originally released its report in January, Gates stood as the most likely candidate to first reach the milestone. For its analysis, Oxfam researchers applied the average prosperity rate of the ultra-rich — 11 percent per year since 2009 — to Gates’ current levels of wealth, which was about $84 billion at the time of the study. If his investments kept doing as well as they had been, it sounded the 61-year-old billionaire could indeed become the world’s first trillionaire.
But, as Bezos’ wealth eclipses Gates’, he could very well reach trillionaire status first. However, Bezos will likely hit another meagerer milestone much sooner. As Frank points out, he’s well on his way to coming “the first 12-digit man” with a net worth of $100 billion.
World’s First Trillionaire
Do you recognize what you’d do with a profusion dollars? Would you buy a fleet of private jets or dune buggies or maybe dine on gold-plated chicken wings? Or would you just disengage a huge pile of currency and burn it for fun?
Some sums of money are so large, they defy imagination: a trillion dollars is just shy of Mexico’s gross indigenous product. So, for some prospect to accrue a billion dollars on the median US household income of just under $60,000 would take more than 16,000 years, considering you spent none of it. To make a trillion would take you over 16 million years.
Apple newly became the first US-listed company with a market value of $1 trillion. So how long will it be before an individual passes the same milestone, and what will they have to do to get so filthy rich?
Been there, done that: maybe we’ve already had the first trillionaire
Hyperinflation produced plenty of trillionaires in Zimbabwe 10 years ago, but in a currency so worthless that a Z$100 billion note would cover just one trip on a public bus it’s probably fair to say they don’t count.
Is There A Trillionaire
The number crunchers at Comparisun have analyzed the last five years of data of the world’s richest companies and individuals to predict when they’ll join the Trillion Dollar Club. You can see the entire list here.
This is hardly exact science, and in all likelihood, none of these entrepreneurs will ever have $1 trillion. Who knows, maybe you’ll launch the next global platform that reduces these big boys to zero. Maybe this fun chart will help inspire you to do what even the most famous businesspeople of today have yet to accomplish.
Predicting the world’s first trillionaires (infographic)
Jeff Bezos may have lost an estimated $38 billion in his recent divorce, but the Amazon CEO is still the richest person on the planet. According to Comparisun, his net worth has grown at a pace of 34 percent over the last five years, which could make him the world’s first trillionaire by 2026. Mark Zuckerberg also has a legitimate shot, although it might take him a bit longer to get there. Keep your head up Zuck! Check out this infographic that breaks down the 25 richest people in the world, and when realistically they can expect to see a bank account balance with twelve zeros in it: $1,000,000,000,000.
Bill Gates Trillionaire
Every so often Forbes, the magazine closely associated with America’s corporate elite, compiles its Fictional Fifteen – a chart of the wealthiest characters in film and literature, to complement its well-known annual list of the world’s wealthiest individuals.
After carefully assessing the assets of the likes of Bruce Wayne and Montgomery Burns, its most recent analysis concluded that Scrooge McDuck – mining magnate and uncle of Donald Duck – was top, with an estimated net worth of $65bn, narrowly beating the dragon Smaug.
But perhaps the most remarkable feature of an altogether remarkable list is rarely noted: the degree to which fictional billionaires have lost ground to real-life ones. According to Forbes, Jeff Bezos, the founder of Amazon with an estimated fortune of $98bn, has recently overtaken Bill Gates to become the world’s richest man. It seems we have reached the point where there are people in the world richer than we are capable of imagining.
Amazon’s share price has risen five-fold in as many years. If it continues at anything like this rate, Bezos, still only 53 years old, can expect to be worth hundreds of billions over the next decade. Indeed, a century since John D Rockefeller became the world’s first recorded billionaire, the prospect of the world’s first-ever trillionaire is now a serious possibility.
A trillion – at least by American reckoning – is a thousand billion dollars, or roughly the GDP of Mexico, and Bezos is leading a pack made up not only of technologists but also energy, finance, mining and retail tycoons from across North America, Europe and Asia. Their rankings and fortunes fluctuate daily in line with stock and commodity prices, but even if Bezos doesn’t get there we can be reasonably certain that the world’s first trillionaire will be male – there are only a dozen women in Forbes’ top hundred list, and none in the top 10.
Not so long ago, a trillionaire would have seemed almost as improbable as a mine-owning duck, and many were unconvinced when Oxfam speculated in January that it could happen within the next 25 years. But the last 12 months alone have seen the German, US and UK stock markets all hit record levels, along with robust economic growth and a resurgence in oil and commodities values. Already, on the basis of its market capitalisation, Apple is close to becoming the world’s first trillion-dollar company, and all this is before Donald Trump’s fiscal reforms take effect, slashing tax rates for the very wealthiest.
Who is a trillionaire 2019?
Who are the trillionaires in the world?
- Amancio Ortega – $73.3 billion.
- Warren Buffett – $73 billion.
- Jeff Bezos – $64.9 billion.
- Carlos Slim Helu – $49.6 billion.
- Mark Zuckerberg – $48.4 billion.
- Larry Ellison – $47.7 billion.
- Charles Koch – $43.5 billion.
- David Koch – $43.5 billion.