Bill Gates could be world's first trillionaire
Microsoft founder Bill Gates, who currently holds the title of world's richest man with a fortune of 79.5 billion dollars, could become world's first trillionaire, according to financial forecasters.
American tax lawyer Bob Lord predicts the next trillionaire could emerge within 25 years as wealth levels become more concentrated, News.com.au reports.
Lord says his guess is that 2039 is the most likely time frame to cross that threshold.
Meanwhile, Carlos Slim and Warren Buffett, with a fortune of 67.3 billion dollars and 64.8 billion dollars respectively are also likely to reach the predicted trillionaire mark.
Wealth Insight consultant Oliver Williams says that one can't be exact on when the first trillionaire will be seen, and it is 'when' not 'if', but it is doubtful that it will be within 25 years; double that estimate would be more likely.
He believes that the first trillionaire will be an inventor, someone who creates something world-changing, like Bill Gates did with the PC.
Banking giant Credit Suisse's recent Global Wealth Report says that if this scenario unfolds, then billionaires will be commonplace, and there is likely to be a few trillionaires too, eleven according to its best estimate.
(Posted on 07-05-2014)