Hello...
A: He says, "I will have made a million dollars by the end of 2020"
? into Indirect Speech
B: He said that he {will, would} have made a million dollars by the end of 2020.
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In the indirect speech B, which one will be correct?
1. will
2. would
3. both
Since 2020 is still in the future, I would use "will".
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While not disagreeing with GPY, I would accept either 'will' or 'would'.
CJ
In situations in which the situation reported is still valid at the time of reporting, then backshifting is (almost) alway correct and (almost) never obligatory.
I added the 'always' in brackets. I have learnt from experience not to use the words 'always' or 'never' when talking about language. There is always (!) somebody who will come up with a sound exception.