The world’s richest person today is Bill Gates, according to public information. His net worth is estimated at $77.3 billion. Gates is just one of the nearly 1,600 billionaires that live nowadays. The number of millionaires is much more impressive. However, the world still has not witnessed its first trillionaire. Experts are confident that in only 25 years, the world’s richest individual, who even that might be, will have a trillion dollars in his or hers bank account.
Various analysts commented to The Times that the world will not wait long before it sees its very first trillionaire. In fact, they even shared that he or she is probably already alive. Of course, it is hard to foresee who that will be. Still, experts suggest that it may be one of today’s richest people. Bill Gates seems to have the biggest chance since he regularly tops this list.
Nevertheless, these predictions will be true only if the wealth of today’s billionaires manages to maintain the same speed with which it increases. World’s most powerful economies and emerging markets would also need to withstand the challenges of time in order for that to happen.
Credit Suisse’s 2013 Global Wealth Report, which was released a few months ago, also made similar predictions. According to it, in just two generations or in about 50 years trillionaires will be 11. Millionaires, on the other hand, are expected to hit nearly one million in about the same amount of time.
But how much is a trillion dollars? In the simplest terms this is a million million and it contains twelve big zeros. The Times editors have calculated that $1 trillion will be more than enough to purchase all the property set in one of the world’s priciest and fanciest real estate markets – central London. In addition, if the world’s trillionaire decides to give away his or her riches to all the people on the planet, each of us would get $140!
However, when the world gets its first trillionaire, this would also mean that wealth inequality will too increase. Latest statistics show that today’s 85 wealthiest people are as rich as half of the world. By 2039, this tendency might reach even more extreme levels.
Nevertheless, not all analysts agree with the forecast on the first trillionaire. Many have shared with The Times, that it is almost impossible to make any estimates on the subject. Others believe that it will take at least 50 more years before the world welcomes its first trillionaire. Interestingly, however, most seem to agree that the very first person with a trillion dollars in his or hers bank account will be based either in the U.S. or in India. That is because the U.S. is the country with the fastest wealth accumulation rates, whereas India is one of the world’s fastest growing economies.
