Richest

It takes years for someone to become a billionaire through business. But it’s not impossible to become an instant billionaire in just one day.

The French owner of the Louis Vuitton luxury brand added P17 billion to his already huge fortune on Friday when the value of his company shares rose nearly 10 percent in the Paris stock market. This was in reaction to the announcement by Chinese authorities cutting interest rates and easing bank reserve restrictions to free up money for lending to consumers.

Consequently, Bernard Arnault’s assets are now worth $201 billion, according to CNN, citing the Bloomberg Billionaires Index. However, he is not the richest person.

SpaceX, Tesla and X owner Elon Musk, with a fortune estimated at $250 billion, is the world’s richest person, according to CNN.

Meanwhile, Informa Connect Academy (ICA) has forecast who will be the first trillionaire by 2027.

ICA made the prediction after identifying the businessman whose assets have been growing at an average of 110 percent per year.

That person owns 13 percent of an electric vehicle (EV) manufacturing company worth about $710 billion, more than the combined value of Coca-Cola, Bank of America and Boeing, according to CNN.

Dan Ives, senior equity analyst at Wedbush Securities, agrees with ICA. In an email to CNN, he said Musk can “achieve new heights over the coming years as Tesla capitalizes on full self-driving, Robotaxis and the future of EVs.”

Musk won’t be alone in the trillionaire club. Nvidia’s CEO and co-founder Jensen Huang, with a current net worth of $104 billion, is also forecast to become a trillionaire in 2028, according to Informa, Bloomberg reports.