Trillionaire? One study says we'll see them within a decade (2024)

Bloomberg may have to rename its Billionaire Index in coming years, as the world could have its first trillionaire within the next decade, according to a new report from anti-poverty organization Oxfam International.

The prediction, which was part of the group’s annual assessment of inequities, follows a year where the world’s 10 richest people saw their collective fortunes increase by nearly half a trillion dollars. Oxfam, which has historically been critical of billionaires, pointed out the disparities between the richest slice and the rest of the world. Its report noted that the net worth of the five richest people in the world have jumped 114% since 2020, which works out to an hourly wage of $14 million per hour.

“The richest 1 percent own 43 percent of all global financial assets,” the group wrote. “If corporations were structured more democratically, that could significantly reduce inequality. For instance, if 10 percent of every business in the U.S. was employee-owned, it could double the share of wealth of the bottom 50 percent and the median wealth of Black households.”

As of today, no billionaire is within striking distance of becoming a trillionaire. Elon Musk is, at present, the world’s richest person, with a net worth of $206 billion, while Jeff Bezos is in the number two position with $179 billion, according to Bloomberg.

Of course, the idea of a billionaire was largely unthinkable a century ago. John Rockefeller, who is thought to become the first person to achieve that status, didn’t hit it until 1916.

Oxfam’s report calls for a wealth tax on the world’s richest people. The group estimates that could generate up to $1.8 trillion per year, which it suggests could be used to “invest in public services and infrastructure and to support climate action initiatives that could better everyone’s lives, not just those of the ultra-wealthy.”

At the current rate, the group says, it will take 230 years to end poverty.

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Trillionaire? One study says we'll see them within a decade (2024)


Will there be a trillionaire in the next 10 years? ›

If current trends continue, the world will have its first trillionaire within a decade, but poverty won't be eradicated for another 229 years. "We expect to see continued concentration of extreme wealth at the very top," added Rebecca Riddell, policy lead economic and racial justice at Oxfam.

Will we see a trillionaire in our lifetime? ›

“At current rates, it will take 230 years to end poverty, but we could have our first trillionaire in 10 years,” states the report, which highlights the growing inequality alongside the staggering net worth of the five men.

Who is likely to be the first trillionaire? ›

"Of the 21 individuals who stand a chance of reaching this phenomenal milestone in their lifetime, Elon Musk is predicted to be the first," said CEO Magazine. This prediction was reiterated by The Guardian, The Economic Times and many others.

Is anyone a trillionaire in 2024? ›

At any rate, there is no single identifiable person who seems on track to become a trillionaire within the next decade. Eventually it will happen — and a good share of the credit should go to the Federal Reserve, not necessarily the person who earned the money.

Was there ever a quadrillionaire? ›

We never would've thought in a million years we'd be alive to see the first quadrillionaire. We were wrong! That's right, an American man recently became the first person in the history of mankind to become a quadrillionaire.

Who is closest to being a trillionaire? ›

As of today, no billionaire is within striking distance of becoming a trillionaire. Elon Musk is, at present, the world's richest person, with a net worth of $206 billion, while Jeff Bezos is in the number two position with $179 billion, according to Bloomberg.

Who were the only six trillionaires? ›

These are the only 6 trillionaires who lived on earth from history who reached the pinnacle of wealth.
  • Genghis Khan. 1206–1227. King of Mongol Empire. ...
  • Zhao Xu. 1048–1085. ...
  • Akbar, The Great. 1542–1605. ...
  • Amenhotep III. 1388–1351 BC. ...
  • Augustus Caesar. 63 BC-14 AD. ...
  • King Solomon. 970–931 BCE. ...
  • Mansa Mousa. 1280–1337.
Jun 30, 2021

How many trillionaires are alive? ›

As of today, there are no trillionaires who live on earth.

What is a quadrillionaire? ›

quadrillionaire (plural quadrillionaires) Somebody whose wealth is greater than one quadrillion units of the local currency. (by extension) An extremely wealthy person.

Who are the only trillionaires? ›

No individual has claimed the status of trillionaire just yet. But a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency isn't unattainable, but it will be a couple of years yet. Only 18 countries have a GDP that exceeds that amount. The World Bank.

Who are the top 5 trillionaires in the world? ›

Among the findings, Oxfam highlighted how the personal fortunes of the world's five richest people — Tesla CEO Elon Musk, Bernard Arnault and his family of luxury company LVMH, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investment guru Warren Buffett — have more than doubled since 2020.

What comes after trillionaire? ›

What Is the Next Big Number After a Trillion? The next big number after a trillion is a quadrillion, which is 1,000 trillion.

Are there any millennial billionaires? ›

Gymshark's millennial billionaire CEO says he never thinks about his wealth because 'it's not a measure of success' and 'none of it's real' Defining your success by your net worth is “a wildly unproductive way to live," says Gymshark's billionaire chief Ben Francis.

Who will be the richest person in history? ›

"Mansa Musa Of Mali May Have Been The Richest Person In History." History.

Who is the richest woman in the world? ›

Francoise Bettencourt Meyers, the heiress to the L'Oréal cosmetics empire, holds the title of the richest woman in the world. Born in 1948, she is the granddaughter of Eugène Schueller, the founder of L'Oréal.

Who will be the future trillionaire? ›

1. Elon Musk: $199 billion. As the world's richest man, Tesla chief executive Elon Musk is the centibillionaire most likely to grow his net worth to $1 trillion - despite dropping out of the exclusive $200 billion club just last week.

Who will be the richest people in 2030? ›

We could see the world's 1st trillionaire by 2030. Here are some of today's richest 1%
  • Elon Musk: $226.6 billion. ...
  • Bernard Arnault and family: $175.1 billion. ...
  • Jeff Bezos: $173.6 billion. ...
  • Larry Ellison: $134.9 billion. ...
  • Warren Buffett: $119.5 billion.
Jan 17, 2024

What year will we see the first trillionaire? ›

Oxfam International released a report Sunday that predicts a trillionaire could emerge over the next 10 years, while it would take 230 years to end poverty. The report said that the world's five richest people have more than doubled their fortunes since 2020, but 5 billion people have become poorer in the same period.

How rich would a trillionaire be? ›

To tabulate your net worth, start by totaling up all of those assets. You then deduct liabilities—everything from personal loans to mortgages. Someone with at least $1 trillion (or one trillion euros) of net assets would qualify as a trillionaire.

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