Tuesday, 06 May 2014
He founded the world’s most famous software company and is dedicated to eradicating malaria. Now Bill Gates could be set to add another line to his CV: World’s first trillionaire, The Telegraph reports.
That’s according to financial forecasters who predict it’s only a matter of time before we see billions become trillions.
American tax lawyer Bob Lord predicts the next trillionaire could emerge within 25 years as wealth levels become more concentrated.
“My guess is 2039 is the most likely time frame to cross that threshold,” he told The Telegraph.
Bill Gates is predicted to be the first person to take up the mantle (at least publicly). He’s currently the world’s richest man with a fortune of USD 79.5 billion. Carlos Slim and Warren Buffett, who are valued at USD 67.3 billion and USD 64.8 billion respectively are also in the running, although with Buffett at age 83 could be a factor.
Wealth Insight consultant Oliver Williams told The Times that with wealth growing at current levels the move is inevitable.
“You can’t be exact on when we will see the first trillionaire, and it is ‘when’ not ‘if’, but it is doubtful that it will be within 25 years; double that estimate would be more likely. The first trillionaire will be an inventor, someone who creates something world-changing, like Bill Gates did with the PC,” he said.
Banking giant Credit Suisse predicts there could be as many as 11 trillionaires within the next two generations.
“If this scenario unfolds, then billionaires will be commonplace, and there is likely to be a few trillionaires too, eleven according to our best estimate” their recent Global Wealth Report stated.
- The World Could See Its First Trillionaire In 25 Years (telegraph.co.uk)
- Waiting on world’s first trillionaire (theage.com.au)
- Bill Gates predicted to be world’s first trillionaire (alrasub.com)
- World’s first trillionaire just a matter of time (smh.com.au)