Elon Musk May Become the World’s First Trillionaire

Elon Musk may be eccentric and controversial, but he’s also filthy rich and is expected to only get richer.

The CEO of Tesla and SpaceX, is already the world’s richest man, and is on track to becoming the world’s very first trillionaire, according to a recent study by procurement company Approve.com.

Musk has the top spot of the Bloomberg Billionaires Index with a net worth of $221 billion.

With an annual average increase of 129%, Musk’s net worth could hit a trillion dollars in 2024, Approve said.

Morgan Stanley’s head of auto and space research Adam Jonas has also said that SpaceX will launch Musk into being the first trillionaire.

Musk’s fortune is tied to his stakes in Tesla and SpaceX, the two companies he runs.

SpaceX may make up less than 17% of Musk’s $241.4 billion net worth, according to the Bloomberg Billionaires Index, but Jonas is bullish on SpaceX. Jonas said SpaceX was “challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure.”

The Morgan Stanley analyst believes SpaceX, currently worth about $100-billion, will get to $200 billion. That’s because he sees it as multiple businesses in one.

Besides the space launch business led by the popular reusable Falcon 9 workhouse rocket, Jonas also sees good things coming from Earth observation, space tourism, deep-space exploration, and other industries.

“Since 2017, Musk’s fortune has shown an annual average increase of 129%, which could potentially see him enter the trillion-dollar club in just two short years, achieving a net worth of $1.38 trillion by 2024 at age 52.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.