Entrepreneur and CEO of two of the world’s largest companies, Elon Musk, is well on his way to becoming the world’s first trillionaire.
The Guardian reports that analysts at Morgan Stanley predict that the 50-year old CEO of Space X and Tesla could become the world’s first trillionaire, largely thanks to his aerospace company SpaceX.
They estimate that revenue from his airspace company Space X will push Musk over the trillion-dollar mark in coming years.
“More than one client has told us that if Elon Musk were to become the first trillionaire… it won’t be because of Tesla,” analyst Adam Jones said to The Guardian, referring to the electric car company behind most of Musk’s wealth till date.
“Others have said SpaceX may eventually be the most highly valued company in the world in any industry,” Jones added.
While humans are yet to reach Mars, this is one of Musk’s goals for the company via SpaceX’s starship. However, the advanced launched system has high expectations after the success of SpaceX’s Crew Dragon.
“As one client put it, ‘talking about space before Starship is like talking about the internet before Google,’” explains Jones.
CNBC reports that Space X’s valuation increased to $100.3 billion in early October, from $74 billion in February. This rise in valuation makes SpaceX the world’s second-biggest privately owned company, with Musk owning 48% of the corporation, the world’s second-biggest privately held company, The Guardian states.
SpaceX’s many milestones this year also include successfully launching and landing a starship rocket for the first time. It also made history for sending the first all-civilian crew into orbit.
Bloomberg Billionaires Index estimates Elon Musk to have a net worth of $242 billion net worth, according to Bloomberg Billionaires Index. Tesla remains his biggest asset.