Elon Musk set to become first trillionaire in the world

Elon Musk, the CEO SpaceX and Tesla, two of the world’s largest companies, is set to become the first trillionaire in the world.

Analysts at Morgan Stanley predict that Musk could become the first trillionaire in the world, through his aerospace company SpaceX. They estimate that his aerospace company SpaceX will move him across the trillion-dollar mark in the coming years.

Adam Jonas, Morgan Stanley’s analyst said, “More than one client has told us that if Elon Musk were to become the first trillionaire, it won’t be because of Tesla,” referring to the electric car company behind the majority of his wealth to date.

He further added that “Others have said SpaceX may eventually be the most highly valued company in the world in any industry.”

One of Musk’s goals for the company via SpaceX’s Starship is to be the first to reach Mars, which no human has achieved yet. The advanced launch system already has high expectations following the success of SpaceX’s Crew Dragon.

Jones explaining further said, as one client put it, ‘talking about space before Starship is like talking about the internet before Google.”

Space X’s valuation increased to $100.3 billion in early October, from $74 billion in February, reports CNBC. This rise in valuation makes SpaceX, with Elon Musk owning 48% of the corporation, the world’s second-biggest privately owned company.

This year, SpaceX has successfully achieved a number of milestones, including successfully launching and landing a Starship rocket for the first time.

SpaceX also recorded another huge milestone when it sent the first all civilian crew into orbit.

In terms of his current net worth, Musk is estimated to be worth $242 billion according to the Bloomberg Billionaires Index, and Tesla still remains his biggest asset.

Jeff Bezos is currently the second-richest person in the world, with a net worth of $197 billion, followed by Bernard Arnault ($163 billion), Bill Gates ($133 billion), and Mark Zuckerberg ($127 billion) according to Bloomberg.

Since the start of last year, Elon Musk’s fortunes have risen rapidly, with his wealth increasing by $72 billion, a 42.4% increase from this time last year.