Could we really see the world's first trillionaire in our lifetime?
A new report on inequality published by Oxfam suggests Bill Gates could become a trillionaire in the next 25 years, however, one critic has called the claim 'ludicrous.'
The Microsoft co-founder is already worth $85 billion, according to Forbes. But if Gates' wealth continues to appreciate at the rate of return it has been for the past decade, then by the time 61-year-old Gates hits his 86th birthday, he should be worth a trillion dollars.
Oxfam says the wealth held by the super-rich since 2009 has increased by an average of 11 percent per year, using this average rate of growth to make its prediction.
However, economics expert Tim Worstall, a Forbes contributor, argues that Oxfam’s claims are ‘ludicrous.’
The Oxfam report concludes that “eight billionaires own the same wealth as the 3.6 billion people who form the poorest half of the world's population.”
As the world's richest man is likely to becoming the world's first trillionaire, there have been plenty of Twitter jokes too:
Bill Gates close to being a trillionaire i can barely manage to be a thousandaire 😂😂— Shai (@kraedr_) December 9, 2016