Elon Musk is projected to become the world’s first trillionaire by 2027, according to a report from Informa Connect Academy. Musk’s net worth has surged nearly ten times what it was in early 2020. Tesla’s share price skyrocketed from around $30 in January 2020 to nearly $300 by January 2021. Experts attribute Musk’s wealth accumulation to the success of his companies, which produce high-demand products. The top 1% of Americans control nearly half of all U.S. stocks, while the bottom 50% own just 1%. Tax policies also contribute to this inequality, with the ultrawealthy often using loopholes to minimize taxable income.
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00:00It's Benzinga and here's what's on the block.
00:02Elon Musk is projected to become the world's first trillionaire by 2027, according to a
00:07report from Informa Connect Academy.
00:10Musk's net worth has surged nearly 10 times what it was in early 2020.
00:14Tesla's share price skyrocketed from around $30 in January 2020 to nearly $300 by January
00:202021.
00:22Experts attribute Musk's wealth accumulation to the success of his companies, which produce
00:26high-demand products.
00:28The top 1% of Americans control nearly half of all U.S. stocks, while the bottom 50% own
00:34just 1%.
00:36Tax policies also contribute to this inequality, with the ultra-wealthy often using loopholes
00:40to minimize taxable income.
00:42For all things money, visit Benzinga.com.