Washington (ANTARA) - The world is unlikely to witness a new dollar\ntrillionaire in the near future after SpaceX CEO Elon Musk became the\nfirst person to cross the threshold of $1 trillion in personal\nwealth.<\/p>\n
\u201cWe may have to wait a very long time before anyone else becomes a\ntrillionaire,\u201d said Jay Ritter, a Professor of Finance at the University\nof Florida, to RIA Novotni on Wednesday.<\/p>\n
He added that there is currently no data indicating that anyone else\npossesses wealth significantly above $300 billion.<\/p>\n
The world\u2019s seven richest individuals are currently mostly founders\nof American technology companies.<\/p>\n
Ritter cited Bill Gates, the founder of Microsoft, who has donated a\nlarge portion of his wealth, resulting in him no longer being among the\ntop seven.<\/p>\n
He also emphasised that wealth rankings only calculate the market\nvalue of the shares held by billionaires, without accounting for tax\nliabilities. For instance, if Jeff Bezos were to sell all his Amazon\nshares, he would still have to pay taxes that would reduce his net\nwealth.<\/p>\n
Musk officially became the first trillionaire in history after SpaceX\nand his artificial intelligence companies went public on 12 June.\nAccording to Bloomberg Billionaires Index data as of Wednesday, Musk\u2019s\nwealth has increased by $391 billion this year to reach $1.01\ntrillion.<\/p>\n
Google founders Larry Page and Sergey Brin occupy second and third\nplace, with wealths of $301 billion and $280 billion respectively. Jeff\nBezos sits in fourth place with $262 billion, followed by Dell\nTechnologies founder Michael Dell in fifth with $217 billion. Larry\nEllison, one of the founders of Oracle, dropped to sixth position after\nhis wealth decreased to $202 billion.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/musk-becomes-first-trillionaire-rivals-lag-far-behind-1782982539", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }