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According to Grand View Research, the market is growing at nearly 42% per year! The race to be the first trillionaire is still all to play for, as the standings can change According to ARK Invest, AI could add $30 trillion to the global equity markets over the next two decades. Jonas said SpaceXs Starship reusable rockets that could take people and cargo to the moon and Mars had the potential to transform investor expectations around the space industry. Zhang Yiming is the chairman and founder of Beijing ByteDance Technology Co. Anticipated year: 2029, Current net worth: US$188 billion AI is also being used to identify a drug candidate that could be repurposed for different uses. By 2018, the company Thats almost as much as the entire US stock market is worth today! Since 2017, the Forbes estimate of Bezos net worth soared from nearly $67 billion to $177 billion, a more than 2 1/2 times gain. While no individual has amassed a fortune over $1 trillion, some companies have crossed this threshold. Palihapitiya did not opine on when Musk would cross the trillion dollar threshold. Who will become the worlds first trillionaire? At the time, it had the highest market capitalisation in corporate history. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Some have predicted that the world could see its first trillionaire by 2026. Wealth measures the value of all assets of worth owned by a person, community, company, or country. Fast forward some 100 years to 2021: As the COVID-19 pandemic conti predicts that the world's first trillionaires will actually be entrepreneurs working with artificial intelligence. "Mayo Clinic Proceedings: J. Craig VenterThe Human Genome Project. Zetlin, Minda. The top 10 from the trillion-dollar club is largely dominated by males from the tech sector, including Google Founders Larry Page and Sergey Brin. Just like prior megatrends, everyday investors stand to make millions off of AI. The analyst Adam Jonas said the company, founded in 2002, was challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure. First on the current Forbes list is Musk, who has a current net worth of approximately $264 billion. It's just going to blow everything away," says Cuban, who himself started out as the child of a blue-collar family from Pittsburgh. Forbes Billionaires 2021: The Richest People in the World. Forbes, https://www.forbes.com/billionaires/. The company had been flirting with bankruptcy and was thought to have lost its way as it lost market share to Bill Gates Microsoft. All data was retrieved on 19/01/2020. Computing and mobile phone giant beats Amazon to landmark after its shares hit $207.05. I would not want to be an accountant right now. That's before accounting for the coronavirus. Anticipated year: 2032, Current net worth: US$99 billion A trillion dollars equals 1,000 billion dollars. The world's first trillionaire will be a company. Apples astounding recent performance has left rivals in the competitive technology sector trailing in its wake. Trillion Dollar Industry 1: Space The space race is only just beginning as some of the world's most powerful. Despite having faced many challenges including overcoming the brink of bankruptcy in 1997, the tech giants forged a path in marrying new technology with innovative business models. All Rights Reserved. Jeff Bezos will some time in the near future have more money than the Netherlands.Totally normal. Customers walk past an Apple logo inside an Apple store at Grand Central Station in New York. Your membership is the foundation of our sustainability and resilience. Definition, Causes, and Key Statistics, Mayo Clinic Proceedings: J. Craig VenterThe Human Genome Project. However, the pace at which some of the worlds richest people have been able to accumulate wealth suggests that it may only be a few short years before someone garners that designation. "Standard Oil Established. Forbes. Meanwhile, low-skilled workers are already losing their jobs to robots and automation. "Financial Burden of Cancer Care. (Celebrating the milestone would be) the beginning of the end.. But it is hard to imagine that any of them see the need to take on that kind of risk today. It follows in the footsteps of Dutch East India Company, which is believed to be the worlds first multinational business. If you paid out $1 per second, to settle a $1 million debt would take less than 12 days. For those in the highest strata of wealth, arriving at an accurate net worth figure tends to be a complex undertaking. In short, AI will likely be the reason we never experience an outbreak like the coronavirus again. According to Comparisun, a company which allows small- to medium-sized firms to compare different business products, the world's first trillionaire will likely be Amazon founder and CEO Jeff. Money is pouring into AI companies at a breathtaking rate. When trillions of dollars are discussed, it's usually in the context of government spending budgets, not an individual's wealth. Bill Gates was a tech-whiz kid growing up, having designed his first software program at age 13. A trillion square miles would cover the surface of 5,000 planet Earths. It means Apples stock market value is more than a third the size of the UK economy and larger than the economies of Turkey and Switzerland. As of February 2022, he owns roughly 23% of electric car manufacturer Tesla and about 50% of the aerospace company SpaceX. Its best to do one thing really, really well is one of the secrets to the Googles success. For example, $1 trillion is roughly the same as the gross domestic product (GDP) of Mexico ($1.07 trillion in 2020) or Australia ($1.33 trillion in 2020). The world today has a large supply of millionaires and more than 1,000 billionaires, but the first trillionaire remains to emerge. I would not want to be an accountant right now," says Cuban. Altogether these billionaires are worth $13.1 trillion, up from $8 trillion in 2020. A billionaire is an individual who has assets or a net worth of at least one billion currency units such as dollars, euros, or pounds. Lets look at French fashion magnate Arnault. "'What kind of opportunity can I create that gives these people hope for jobs and the ability to live a valuable life?' That was the most money of any sector! Investopedia does not include all offers available in the marketplace. . Mark Zuckerberg, founder of Meta (formerly Facebook), is only 37 and reportedly worth around $67.3 billion. Amazon, which was regarded as the next most likely to breach the $1tn mark, was also left behind despite posting higher-than-expected profits last week. In The result was the invention of disruptive products such as the iPod in 2001 and the iPhone in 2007, which became cultural landmarks as well as pushing technological boundaries. Musk owns roughly 48% of SpaceX. trillion-dollar club in just two short years, achieving a net worth of $1.38 trillion by 2024 at age 52. He is the operator of the Kratisto Investing blog. One trillion dollars is a figure so gigantic its truly unfathomable to many, but not for five global corporations in the trillion dollar companies club. Simple, Customizable Procurement Processes For Your Organization. Elon Musk, the founder of Tesla, is ranked just below Bezos on Forbes' list of billionaires. Since receiving control of From Macs to iPods and apps: how Apple revolutionised technology, Original reporting and incisive analysis, direct from the Guardian every morning. Despite the inspiring achievement, the humble CEO insists it is more important to focus on the future. The 42-year journey to reach the exclusive club happened seven years after Tim Cook replaced Founder Steve Jobs as CEO. This article was amended on Friday 3 August to correct an editing error. Focusing on cloud computing a move initiated by CEO Satya Nadella helped drive the companys shares to the highest it has been since 1991 before the venture became the third US public company to be valued at over $1 trillion. With a net worth of $195 billion, he now beats out Jeff Bezos by about $10 billion. A trillion is a 1 followed by 12 zeros, like this: 1,000,000,000,000. This is not the first time the Amazon CEO's immense fortune has faced scrutiny. In January, Bezos revealed Amazon would donate $1 million Australian dollars or $690,000 in U.S. dollars to wildfire recovery efforts in Australia. The iMac to iPhone company, co-founded to sell. Although he does not appear to be currently targeting cancer as a subject of his research (focusing instead on synthetic biology that could be applied to clean fuels), imagine what a cure for cancer could be worth. Musk, who has built his wealth on game-changing companiesTesla in the realm of electric cars and SpaceX for commercially developed rocketsmay stand as good a chance as any. And, indeed, the three men often change positions with each other. These include white papers, government data, original reporting, and interviews with industry experts. One trillion dollars is enough money to buy up all the shares of ExxonMobil (XOM), McDonalds (MCD), and Coca-Cola (KO)and still have billions left over. According to Comparisun, a company which allows small- to medium-sized firms to compare different business products, the world's first trillionaire will likely be Amazon founder and CEO Jeff Bezos. One off-the-board candidate to consider would be Craig Venter. valuable start-ups, ByteDance was founded in 2012 and is now valued at a staggering $75 billion having captured the Through continued iteration on difficult problems, weve been able to solve complex issues and provide continuous improvements to a service that already makes finding information a fast and seamless experience for millions of people, the company shared. A tycoon is a prominent figure in a particular industry who has built up substantial wealth and power while building their business empire. But SpaceX, the private space exploration company he leads, could lift him to trillionaire status,. Researchers at MIT have already used AI to identify a powerful new antibiotic compound for the coronavirus. 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