The World May See its First Trillionaire in the Next 10 Years
Soon the world may see its first trillionaire. A recent report predicted that the world will see its first trillionaire in the next ten years. The AP reported that the anti-poverty…
Soon the world may see its first trillionaire. A recent report predicted that the world will see its first trillionaire in the next ten years. The AP reported that the anti-poverty organization Oxfam International has been trying to highlight the growing disparities between the "super-rich" and the bulk of the global population for years. They did this at their World Economic Forum’s annual meeting.
According to the World Economic Forum, five billion people are poorer than in 2020. They said that millions of people are still "grappling" with the economic fallout of the COVID-19 pandemic while navigating the escalating cost of living.
Research from Oxfam shows that the five richest men have seen their fortunes more than double since 2020. The research also highlights that billionaires are $3.3 trillion (34%) richer compared to the beginning of this decade of crisis, with their wealth growing three times as fast as the inflation rate.
Who will be the first person to hit trillionaire status?
According to Forbes, the five richest people include Tesla CEO Elon Musk, businessman Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett. The planet's billionaires are now worth $12.2 trillion, a drop of $500 billion from $12.7 trillion in March 2022, said Forbes.
What does a trillion dollars look like?
The Imagination Station Toledo looked into what a trillion-something would look like. According to them, one trillion dollar bills would stretch nearly from the earth to the sun. They said it would take a military jet flying at the speed of sound, rolling out a roll of dollar bills behind it, 14 years before it reeled out one trillion-dollar bills.
Another organization put a trillion into perspective too. The Endowment for Human Development said that a million one-dollar bills stacked would be 358 feet high, and a billion would be about 68 miles high. As far as trillion-dollar bills, it would be just under 6,800 miles high.
