Featured Image Credit: Anadolu / Contributor / Getty
Good fortunes could be ahead for the global economy according to Elon Musk, as he has predicted jaw-dropping growth over the next ten years, although with one major caveat that appears to be looming over the world.
Anyone taking even just a cursory glance at the stock market will be well aware of how turbulent it has been over the last year and a half, as while Donald Trump's return to the Oval Office has seen significant growth for many leading companies, there have been major dips along the way.
Policy such as Trump's extreme global tariffs or the recent conflict in Iran triggered by the US military have prompted brief crashes and instability that many aren't necessarily willing to risk, yet Elon Musk remains confident in the future of the global economy if one frightening scenario is avoided.
As reported by Benzinga, Musk spoke at the Abundance Summit last week in conversation with XPRIZE founder Peter Diamandis, and he had a rather bold prediction for where the next 10 years will lead for global finances.
Advert
"I'd say the economy is 10 times its current size in 10 years," Musk declared, adding on to that a clarification that this could be even "greater than" that initial prediction, assuring everyone that he is 'fairly comfortable' in putting this out there.
Going by Musk's income alone its hard to deny, as he's not only the world's richest man but holds that title by a considerable margin and has grown exponentially over the last few years.
At the start of the decade, for example, Musk 'only' had a net worth of $26.5 billion, and within two years that increased over ten times to $320.2 billion. Now, however, he possess wealth exceeding $800 billion after just six years of growth, so it's not necessarily out of the question for that to repeat itself worldwide within Musk's eyes.
There is one major hurdle that the economy would have to clear – or more importantly, avoid – to achieve this unprecedented growth though, and it's something that appears to be edging closer to reality with every passing day.
"Obviously if there's like World War 3 or something, that could put a kink in those plans or those expectations," Musk outlined, "but in the absence of World War 3, if current trends continue, I would say the economy [increases] 10 times in 10 years."
The aforementioned war in Iran is, in many people's eyes, the closest we've got in recent years to the explosion of global war, and certain tactics employed by Iran are already putting a stranglehold on the economy and only look to grow worse as times goes on.
