Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Walgreens Store Closures: Full List of Locations Shutting Down This Month

    June 4, 2025

    Expert Predicts Summer 2025 Travel Deals: 5 Budget-Friendly Destinations to Book Now

    May 28, 2025

    Walmart Addresses Trump’s Demand to Cover Tariff Costs

    May 25, 2025
    Facebook X (Twitter) Instagram
    Friday, June 6
    X (Twitter) Instagram
    NinepenniesNinepennies
    • Home
    • Featured

      The Highest-Paying Jobs in America—And It’s Not in Finance!

      March 27, 2025

      7 Must-Buy Costco Sale Items Before They’re Gone This February 

      February 10, 2025

      Steel Stocks on the Rise: 3 Winners After Tariff Announcements

      February 4, 2025

      The Best Oil Stocks to Invest $200 in Right Now

      January 28, 2025

      Top 10 Best Jobs of the Year: High Demand, Six-Figure Salaries, and Bright Futures

      January 23, 2025
    • Entrepreneur News

      Walgreens Store Closures: Full List of Locations Shutting Down This Month

      June 4, 2025

      Walmart Addresses Trump’s Demand to Cover Tariff Costs

      May 25, 2025

      Walgreens Expands Use of Prescription-Filling Robots to Reduce Costs and Support Pharmacists During Turnaround

      May 15, 2025

      Hooters Declares Bankruptcy

      April 8, 2025

      Costco to Open 6 New U.S. Stores Next Month and Another in April—See the Locations and Dates

      February 28, 2025
    • Financial Wellness

      Smart and Risky Spots To Store Your Cash, Coins, Crypto, and More

      April 24, 2025

      The Minimum Salary Needed to Be in the Upper-Middle Class in 2025

      March 21, 2025

      Should You Buy, Sell, or Hold Amazon in 2025?

      March 7, 2025

      From Hawaii to West Virginia: The Shocking 77-Year Gap in Retirement Savings Longevity

      February 24, 2025

      Are the 3 Highest-Paying Dividend Stocks in the Dow Jones Worth Buying?

      February 17, 2025
    • Popular Now

      European Markets Climb as Trump Moves to Cut Tariffs on Auto Parts

      May 1, 2025

      Robinhood Expands Trading to Include Bitcoin, Oil, and Gold Futures 

      January 30, 2025

      Powerball Winning Numbers for January 18: Oregon Player Takes Home $328.5 Million Jackpot

      January 21, 2025

      Morgan Stanley Surpasses Estimates With Robust Equities and Fixed Income Trading Revenue

      January 20, 2025

      10-Year Treasury Yield Edges Lower Amid Anticipation of Economic Data, Fed Remarks

      November 21, 2024
    • Wealth

      America’s 10 Wealthiest Self-Made Women, According to Forbes— #1 May Surprise You

      February 5, 2025

      8 Wealthiest Royals in History

      February 4, 2025

      One Powerful ETF That Grew $10,000 to $55,000 in a Decade: Is It Worth Buying in 2025?

      January 28, 2025

      Coinbase CEO Predicts Bitcoin Could Hit Multi-Million Dollar Value

      January 24, 2025

      Dogecoin Surged After Elon Musk’s Appointment: What’s Happening With This Popular Meme Coin?

      November 18, 2024
    NinepenniesNinepennies
    Home » Race to the World’s First Trillionaire; Who Will It Be?
    Wealth

    Race to the World’s First Trillionaire; Who Will It Be?

    DunniBy DunniApril 29, 20248 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    AP and Jason Maguire battle it out at Bangor On Dee Race Course
    Source: Paul/Wikimedia Commons
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Over the years, the world’s elites have played a significant role in the developmental trajectory of the Earth and its industries. 

    A collage of the Richest billionaires
    Source: Emmanuel Joseph Mbah/Medium

    During the Industrial Revolution, magnates like John D. Rockefeller and J.P. Morgan influenced the heartbeat of the world’s largest economies. However, with the monumental rise in the wealth of the wealthiest people in the world, Oxfam International is trying to project who among them would become the first trillionaire. 

    How to Set Forth Financial Prophecy

    Here are the metrics by which Oxfam International formulated the wealth growth of the five wealthiest individuals in the world. 

    Logo of Oxfam International
    Source: Oxfam Outreach Society UoB/Facebook

    First, the organization determines the value of the individual’s known wealth. Next, it considers the rate at which the individual’s wealth has compounded in the past few years. Finally, Oxfam International estimated how long it would take the five richest people to become trillionaires. 

    Elon Musk, Coloniser of the Universe

    Elon Musk is the prime mover of SpaceX and Tesla. While he is also the founder and owner of several other businesses, those two are his wealth muscles. 

    Elon Musk in 2008
    Source: JD Lasica/Wikimedia Commons

    Oxfam International reported that Musk’s wealth has increased by an average of 162% annually in the past five years. The organization projects that profits from Musk’s many innovations will propel him to the trillionaire status by 2032.

    Bernard Arnault, the King of Luxury 

    Bernard Arnault started off his enterprising journey into wealth by buying off an ailing fashion company. Today, he is the billionaire owner of a luxury fashion conglomerate — LVMH. 

    Conference at the Ecole polytechnique of Bernard Arnault
    Source: Jérémy Barande/Wikimedia Commons

    Oxfam International reported that Arnault’s wealth has grown at an annual average of 22% since 2019. With about 70 international luxury brands under his belt, Oxfam International projects that Arnault would become a trillionaire by 2033.

     Jeff Bezos, the E-commerce Magnate

    We all know him for his phenomenal work, spanning multiple decades, to build the largest online retail store — Amazon. However, Jeff Bezos has now branched out into space exploration through his company, Blue Origin. 

    Bezos at an event in 2019
    Source: Daniel Oberhaus/Flickr

    Bezos was the first person to hit the $200 million threshold, and Oxfam International predicted that he would become a trillionaire by 2034.

    Larry Ellison, Breecher of the Software Market 

    Oxfam International has estimated Larry Ellison’s billions to grow by an 18% annual average. The company he co-founded, Oracle, was one of the many that experienced financial explosions thanks to the internet boom of the 90s.

    Larry Ellison at Oracle OpenWorld
    Source: Ilan Costica/Wikimedia Commons

    With Ellison’s stakes in software and yachting, he is eyeing a steady rise to the trillion-dollar mark by 2035.

    Warren Buffett, the Oracle of Omaha

    Warren Buffett has carved a robust reputation for himself in investment finance, so much so that his reputation helped save one of the major brokerage firms after the 2008 financial crisis. 

    Buffett at Fortune The Most Powerful Women 2013
    Source: Fortune Live Media/Flickr

    Buffett’s wealth, largely domiciled in Berkshire Hathaway, is said to be growing annually at an average of 4%. Oxfam International projects that Buffett’s financial wisdom will make him a trillionaire by 2036.

    Expansion of Global Economies    

    It may be mind-boggling that a single individual could be worth over $1 trillion while many independent nations struggle to self-fund an annual budget of a similar amount. 

    Governor signs budget into law
    Source: Governor Mark/Flickr

    However, it is very possible that economies continue to open up so far, and the conditions are appropriate for business and healthy capitalistic competition. Nonetheless, Oxfam International suggests that poverty is also on the rise. 

    Potential Hindrances of the Smooth Sail 

    There are undoubtedly many roadblocks on the journey of these billionaires to a trillion dollars. For example, some folks may encounter unexpected distractions that reallocate their financial priorities. 

    Shot of two coins
    Source: Tatiana Wilson/Medium

    To illustrate, during the recent pandemic, many billionaires made charitable donations to develop vaccines and medical technology. Of course, such donations are not outright losses but may constitute a delay in attaining trillionaire status. 

    Generational Wealth and Family Crisis  

    Family dynamics could be another challenge. Did you follow the divorce proceedings of Jeff Bezos and his erstwhile wife? It ended up in one of the largest divorce settlements ever, with McKenzie Scott walking away from the union with 4% of Amazon shares!  

    A group picture of the Arnault family
    Source: Matthew Dalton/X

    Likewise, the large Arnault family may unbundle the LVMH conglomerate if and when their patriarch, Bernard, passes on. 

    The Unexpected Villain    

    A Black Swan, like the COVID-19 pandemic, global civil unrest like a nuclear fallout, or a major financial crisis could disrupt the global economic forces that drive business. In turn, global trade may be disrupted, as may the income source of many multinationals and billionaires. 

    Statue of Liberty and nuclear mushroom cloud in the background
    Statue of Liberty and nuclear mushroom cloud in the background

    Many of these things may not have as much effect on a millionaire running a small start-up in the countryside. 

    The ‘Hows’ and ‘Whys’ of Wealth Accumulation 

    While the global economy benefits from the financial injections of these capitalists, ethical questions are starting to arise. For example, making trillionaires in about a decade from now implies even more concentration of wealth. 

    Children in a slum in Bangladesh
    Source: Kibae Park/NDLA

    By implication, more and more people around the globe would slide below the poverty line. So, the question of how to bridge the inequality gap continues to linger in the air. 

    Philanthropy All the Way

    Many of the ultra-wealthy are already treading a part that helps them have more impact with the resources domiciled within their domain. 

    Laura Arrillaga-Andreessen interviews Sheryl Sandberg
    Source: Steve Jurvetson/Wikimedia Commons

    Many of them collaborate with non-profit organizations like the United Nations, USAID, etc., to make the most of their wealth by funding sustainable development projects, philanthropy, and investing in businesses or ideas that emancipate the masses financially. 

    Giving It All Back 

    Buffett and Bill Gates pledged to give away a vast percentage of their wealth to charity after they passed on, of course. This pledge gives them an even higher edge at attaining trillionaire status. 

    Gates and Buffett fielding questions at an interview
    Source: Jesús Domínguez/Flickr

    It is a given that rich folks, who come off as national or global patriots, are rewarded with more wealth.

    Probing the Motives of Philanthropy 

    Providing free medication and vaccines and funding research that would benefit all of humanity are undoubtedly noble acts. 

    Dr. Howard Kaufman's research on tumor immunology and cancer vaccines
    Source: CUMC/Flickr

    However, there are still entropic arich’s philanthropic activities of the super-rich, which are mere tax evasion tactics. According to this school of thought, philanthropy cannot eliminate crisis like poverty and inequality. 

    How Technology and Innovations Altered the Wealth Creation Playbook 

    Interestingly, the advent of technological innovations has brought about diversity in the distribution of wealth. How, you ask? 

    New generation of technological billionaires
    Source: Mandy Sidana/Medium

    In the slums of Africa, dense shanties of India, and even developing Scandinavian countries, people are already exploiting the benefits of biotechnology, artificial intelligence, cryptocuThese technologies, and renewable energy. They are offering tangible economic enjoying tangible economic returns. 

    Broadening the Spectrum of Global Wealth 

    Many of these technological start-ups and their founders are easily attaining  billion dollar valuations, as they are meeting felt needs with technological innovations. 

    New tech googles on display at an exhibition
    Source: Tech.Co/Flickr

    Most of the ultra-rich baby boomers are familiar with taking businesses public, listing on the stock market, and other methods of wealth generation. However, the new breed of wealth creators is diverse in their approach, thus widening the spectrum of the super-rich. 

    The Societal Jury 

    It takes the rich, or the rich at heart, to understand the motivations of these ultra-rich folks. This has led to a great divide in the public perception of the world’s wealthiest people. 

    Trends of the stock market
    Source: Romulo Quieroz/Pexels

    Many see them as individuals who have paid huge sacrifices to attain success. On the contrary, some others see them as greedy capitalists out to exploit the poor. In fact, some even blame wealthy people for the pay disparity of male and female workers. 

    Holding the Wealthy Accountable 

    Nonetheless, there is no denying that ultra-impacts that Google has far-reaching impacts, way beyond their financial holdings. They influence policies, public opinion, trends, politics, and even culture. 

    Two graduates at their award ceremony
    Source: Steve Goodyear/Flickr

    However, the recent move to hold the ultra-rich accountable, almost like we do politicians, is a change in narrative in the realm of wealth creation. 

    Time Answers All Questions 

    About among, Musk was not on the list of the top ten wealthiest people in the world, but that is no longer the case. 

    One hundred trillion Zimbabwean dollars
    Source: Mississippi State/X

    Oxfam International has generated a list of the top five people with the highest likelihood of becoming trillionaires in the next decade. Only time would tell, likely becomeome underdog would break unprecedented limits. 

    Elon Musk Jeff Bezos Oxfam Trillionaires
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleA Virgin Island With 150 Miles of Coastline is Up for Sale, and It Costs $35M
    Next Article Global Research Finds That Americans Are More Miserable Than Residents of Countries With Worse Off Economy

    Related Posts

    Wealth

    America’s 10 Wealthiest Self-Made Women, According to Forbes— #1 May Surprise You

    February 5, 2025
    Wealth

    8 Wealthiest Royals in History

    February 4, 2025
    Entrepreneur News

    Elon Musk’s X Ventures into Financial Services with Visa Partnership

    January 29, 2025
    Add A Comment

    Comments are closed.

    Top Posts

    How to Delete Credit Karma Account: Step-by-Step Guide

    October 14, 2024

    Home Depot Penny Items: How To Find Them

    October 17, 2024

    Introducing the 2025 Caterpillar Pickup Truck for the U.S. Market

    September 5, 2024
    Stay In Touch
    • Twitter
    • Instagram
    You Might Like

    Subscribe to Updates

    Get the latest tech news from FooBar about tech, design and biz.

    Most Popular

    How to Delete Credit Karma Account: Step-by-Step Guide

    October 14, 2024

    Home Depot Penny Items: How To Find Them

    October 17, 2024

    Introducing the 2025 Caterpillar Pickup Truck for the U.S. Market

    September 5, 2024
    Our Picks

    Walgreens Store Closures: Full List of Locations Shutting Down This Month

    June 4, 2025

    Expert Predicts Summer 2025 Travel Deals: 5 Budget-Friendly Destinations to Book Now

    May 28, 2025

    Walmart Addresses Trump’s Demand to Cover Tariff Costs

    May 25, 2025
    X (Twitter) Instagram
    • Home
    • Editor’s Picks
    • About Us
    • Get In Touch
    • Privacy Policy
    • Terms of Use
    • Editorial Standards
    © 2025 Ninepennies.

    Type above and press Enter to search. Press Esc to cancel.