Will Jeff Bezos be the world’s first trillionaire by 2042?

Updated 2017-08-04 16:05:37 CGTN

Jeff Bezos' stint as the richest person in the world may have only lasted a few hours before Bill Gates reclaimed the top spot last Thursday, but the founder and CEO of Amazon could be on track for a much bigger milestone: the world's first trillionaire.

With 910 billion dollars to go, the goal may seem unrealistic, but a research has suggested Bezos is closer than some might possibly think.

A recent Oxfam report on wealth and inequality, entitled "An economy for the 99 percent," found that the super-rich, the likes of Jeff Bezos, Bill Gates, and Warren Buffett, have seen their wealth collectively grow by huge margins over the last decade.

According to the report, there were 793 billionaires worldwide in 2009, with their combined net worth totaling 2.4 trillion US dollars. By 2016, the richest 793 people maintained a net worth of five trillion dollars, an annual growth of 11 percent.

"If these returns continue, it is quite possible that we could see the world's first trillionaire within 25 years," the report stated.

Oxfam estimates that if trends hold, Bezos may beat Gates in the race to reach the 13-digit mark at the age of 78.

A shooting star?

Benzo's fortune has seen significant hikes as the stock price of Amazon skyrocketed.

The price almost quadrupled from 285 US dollars per share in January 2015 to over 1,000 US dollars recently.

Despite the stock rally, some market watchers are not so convinced about Amazon's performance and business model.

David Stockman, a former director of the Federal Office of Management and Budget, said Amazon is in the middle on a speculative blow up, much like Nasdaq in the late 1990's before the dotcom bubble.

Citing a P/E (price/earnings) ratio of 190x earnings, Stockman argues that the numbers don't add up.

"After all, Amazon is 24 years old, not a start-up. It hasn't invented anything explosively new like the iPhone or personal computer. Instead, 91 percent of its sales involve sourcing, moving, storing and delivering goods," Stockman said.

Stockman is also skeptical about the false growth central banks created through excessive cheap money.

"When the selling starts and the vast horde of momentum traders who have inflated it relentlessly in recent months make a beeline for the exits, the March 2000 dotcom crash will seem like a walk in the park," Stockman stated.

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