Elon Musk is on track to becoming the world’s first trillionaire by 2027, according to a report from Informa Connect Academy. The biggest driver of Musk’s wealth has been Tesla stock and his ownership of SpaceX. Federal Reserve data shows the share of wealth controlled by the top 1% has grown dramatically, while the wealth of the bottom 50% has stagnated. Some feel that rising tides lift all boats, while others think wealth concentration can be harmful to society.
Chapters:
0:00 Introduction
1:47 The world’s first trillionaire?
4:37 How wealth concentrates
7:23 Taxes
Produced by: Charlotte Morabito
Additional Reporting by: Robert Frank
Edited by: Andrea Miller
Animation: Christina Locopo
Additional Camera: Christine Kim
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
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Why The Rich Keep Getting Richer In The U.S.
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