Elon Musk is headed towards becoming the world’s first-ever trillionaire. And it’s all thanks to his efforts to expand space travel and exploration with SpaceX.
At a Glace
- According to Morgan Stanley, SpaceX owner Elon Musk is on pace to become a trillionaire.
- Thanks to quick innovations in the space travel industry, the company is earning money faster than analysts once projected.
- Musk should achieve trillionaire status by 2024.
- Calculations once predicted that Jeff Bezos would become the first trillionaire, but now he won’t get there until 2030.
Analysts Predict that SpaceX Earnings Will Help Elon Musk Become the First Trillionaire by 2024
While Elon Musk’s Tesla is worth around $800 billion, it’s SpaceX, which is worth only $100 billion, that could place Musk in the financial history books.
With his personal earnings from the two, Musk is already the richest person on the planet with a reported $263 billion in the bank. And according to Morgan Stanley’s Adam Jonas, his worth could hit the trillion-dollar mark within two years.
Currently, the space travel and car mogul’s annual average increase is running at 129% because, as Jonas shared per the Guardian, SpaceX is “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure”.
So the company’s fast-paced innovations are helping to make earnings skyrocket much faster than anyone thought possible. And the reusable SpaceX Starships will likely be the company’s primary money maker.
“More than one client has told us if Elon Musk were to become the first trillionaire … it won’t be because of Tesla,” Jonas added. “Others have said SpaceX may eventually be the most highly valued company in the world – in any industry.”
When SpaceX reported $100 billion during a secondary share sale this month, it became the world’s second-biggest privately held company. And Musk owns around 48% of it.
More Billionaires Around the Globe Will Become Trillionaires This Decade
Originally, Jeff Bezos was set to become the first trillionaire. But after taking a financial tumble last year, he’s not projected to hit the mark until 2030, six years after Musk will likely reach 19 figures.
Indian commodity trader Gautam Adani will, however, be right behind Elon Musk. Analysts believe he’ll become a trillionaire by 2025.
Close behind Adani is Zhang Yiming, the founder of Beijing ByteDance. While he won’t break the record of being the first trillionaire on Earth, he will break records by becoming the youngest person to earn the status. If he stays at his current pace, Yiming will join Elon Musk in 2026. And that year, he will only be 42 years old.