The Race For The Title Of World’s First Trillionaire Is On!
Since it is now common knowledge that rich are getting richer, this may not surprise you all that much. But it is still sort of awe-inspiring and surreal to think that, by some estimates, in 25 years world could get its first trillionaire! And it could be Bill Gates!
To clarify the terminology first: a trillionaire is one lucky person that has at least $1,000,000,000,000 (million million dollars) lying about. Enough to buy the entire central London area, at current rates.
The economic forecasters predict that, with current accumulation of world’s wealth and growing economies of China, India, Russia and the likes, there could be more than one of current billionaires reaching this milestone by 2039. Another prediction is that the first trillionaire would most certainly emerge from the USA, because of country’s most acute wealth accumulation.
One particularly interesting observation on the rate of wealth production comes from analyzing the Forbes’ annual lists of the world’s richest. When the list first emerged in 1982, in order to appear on the bottom end of the list having $75 million was enough. Nowadays, even having $1 billion is not a guarantee you would make the list.
Another quite shocking estimate comes in form of Credit Suisse’s far-reaching claim. It is said in an official annual report that as much as 20% of world’s adult population within two generations time will be millionaires! Consequently, the number of billionaires will also increase dramatically, leaving the possibilities for multiple emerging of trillionaires wide open.
Just what does all that indicate in terms of middle class’s destiny? No words on that yet, but probably not much good.
Today’s leading billionaire, the Microsoft founder and IT guru Bill Gates, is said to be the first favorite to become a trillionaire, followed closely by Carlos Slim and Warren Buffet.
As always, there are skeptics. But they are not skeptical about whether the world will get its first trillionaire(s) at all, but when that will happen. Weight Insight’s consultant Oliver Williams, states that it is almost impossible to cite an exact year when that will happen, as economy is a tricky area and largely impossible to predict. He says that 50 years is a more likely timeframe, rather than quarter of the century.
Williams is certain, however, that world’s first trillionaire will make his or her fortune by inventing something of a completely groundbreaking value, that will change the world. With world facing global problems such as famine and water scarcity, perhaps potential trillionaires should look into these issues and try to come up with the solution. Who knows. The unthinkable wealth might be just around the corner.