MoneyTransfers.com offers data showing that it would take an American worker more than 3 million years to reach Elon Musk’s fortune.
How long would it take an American employee to make Elon Musk’s fortune? The answer is 3.1 million years! No, that’s not a typo. MoneyTransfers.com offers data showing that it would take an American worker (based on the average American income) more than 3 million years to reach Elon Musk’s fortune.
According to the magazine Forbes, Tesla CEO Elon Musk’s fortune stood at $262.6 billion as of April 12, 2022. His meteoric rise up the billionaire list saw him dethrone Jeff Bezos. The current fortune of Mr. Bezos amounting to 176.9 billion dollars.
An impossible ambition
Elon Musk’s current net worth means he earns over $430 million a day. It is therefore impossible for a middle-class American worker to reach his level of wealth. Indeed, based on 2020 OECD data, an American worker would earn an average of $69,392 per year. He would therefore have to work for more than 3 million years to reach the assets of Mr. Musk.
The numbers become inconceivable when you consider the median salary. According to an analysis by the St. Louis Federal Reserve in 2020, the median salary in the United States is $35,805. Taking this into consideration, it would more than double the time it takes to reach Elon Musk’s net worth. It would then be necessary to count 6.1 million years of work…
A quest that is counted in millions of years
For their part, the Germans would have to work for almost a million years with an annual income of 53,475 dollars, in order to hope to equal the fortune of Dieter Schwarz. The Schwarz-Gruppe owner is worth some $47 billion and his conglomerate owns supermarket chains Kaufland and Lidl, among others.
Canadian crypto-billionaire Changpeng Zhao is the richest person in Canada. As the owner of Binance, the largest cryptocurrency exchange in the world, he amassed a fortune of $55 billion. Still on the basis of the average salary, a Canadian employee would have to work for 1.2 million years to achieve this feat.
In France, on the basis of the average salary, to equal the fortune of Bernard Arnault, it would take no less than 3.5 million years.
What results in low-middle income countries?
By Western state standards, these numbers are already astronomical. But they become more than glaring in countries where average incomes are low and where wealth disparities are significant. Among these countries are India and China.
India’s richest man, Mukesh Ambani, is worth some $91 billion. The average annual salary in India is around $5,000. Therefore, it would take his compatriots 17 million years to amass a fortune like Mr. Ambani’s.
Similarly, it would take 15.3 million years for a regular Chinese employee to raise the $66 billion that Zhong Shanshan accounts for.