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 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)

FAQs

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

If current trends continue, the world will have its first trillionaire within a decade, according to a recent Oxfam report on global inequality. Shortly after Oxfam's report was released, some of the world's wealthiest people called for higher taxes on the very richest in society.

Will we see a trillionaire in our lifetime? ›

One study predicts the world will have its first trillionaire within a decade. 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.

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What year will we see the first trillionaire? ›

“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.

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.

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Will there ever be a quadrillionaire? ›

That's right, an American man recently became the first person in the history of mankind to become a quadrillionaire.

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How many trillionaires are alive? ›

As of today, there are no trillionaires who live on earth. It is definitely not Elon Musk or Jeff Bezos. Such extreme wealth we dont see in our lifetime.

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Who is the richest female 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.

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Who was a trillionaire in ancient times? ›

1. Mansa Musa. Musa depicted holding a gold coin from the 1375 Catalan Atlas.

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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%