Forget about being worth millions or even billions, Bill Gates is well on his way to becoming the world’s first trillionaire.
According to a report from Oxfam, we could get our first trillionaire in the next 25 years thanks to the exponential growth of wealth.
By that time, the 61-year-old Microsoft co-owner would be 86.
According to the report, there were 793 billionaires worldwide in 2009. Their total net worth added up to a whopping $2.4 trillion. By 2016, the richest 793 people were worth $5 trillion – an annual growth of 11%.
“If these returns continue, it is quite possible that we could see the world’s first trillionaire within 25 years,” the report states.
If the current trend holds, Oxfam estimates that Gates – who is currently holding top spot on Forbes’ richest billionaires list – could soon find himself on the world’s first trillionaire list.
But he might not necessarily want the distinction. Gates, who is worth $84.7 billion, does plenty of charitable work through the Bill and Melinda Gates Foundation. Since leaving Microsoft in 2006, he’s devoted his time to eradicating infectious diseases and improving education around the world.
As CNBC noted, Oxfam is a network of organisations collectively working to alleviate global poverty. According to research conducted by Oxfam, eight billionaires have as much money as the 3.6 billion people who make up the poorest half of the world’s population.
Five of these billionaires are part of The Giving Pledge, a commitment to donate more than half of their net worth to philanthropy. Bill Gates is one of them.
So while a trillion dollars may seem like a ridiculous amount of money for one person, if he gets there, more than half of this will be used to better the lives of generations to come. And we can’t really complain about that can we?