Elon Musk predicted to become world’s first trillionaire in the near future
Elon Musk’s vast business empire, which includes electric cars, social media, space rockets, and brain implants, could soon make him the world’s first trillionaire, reports a Kazinform News Agency correspondent.
Musk, already the richest person with a net worth of about $250 billion, is highly influential and often controversial. According to Informa Connect Academy, he’s expected to reach the trillion-dollar mark by 2027.
Informa notes that Musk’s net worth has been growing rapidly at an average rate of 110% per year, making him the ‘clear favorite’ to hit the $1 trillion first.
However, Musk does have competitors. The meteoric rise of Nvidia, the company whose computer chips are powering the artificial intelligence boom, could make Jensen Huang a trillionaire in 2028, according to Informa. Huang, Nvidia’s CEO and co-founder, has a net worth of $104 billion, according to Bloomberg.
Indian billionaire Gautam Adani is also on track to become a trillionaire by 2028.
Musk’s chance of becoming the first trillionaire largely depends on the future of his most successful company, Tesla, which almost went bankrupt back in 2008.
Tesla, the electric car company Musk founded, is now the world’s most valuable automaker, valued at around $710 billion—more than Coca-Cola, Bank of America, and Boeing combined.
Tesla is Musk’s biggest asset, with him owning nearly 13% of the company, worth about $93 billion at current prices.
Besides Tesla, Musk owns stakes in tunnel construction company The Boring Company and artificial intelligence startup xAI.
There’s also SpaceX, the spacecraft company that made history on Thursday, September 12 by completing the first-ever spacewalk conducted by a non-government organization.
As Bloomberg notes, Musk owns about 42% of SpaceX, a private company valued in June at a whopping $210 billion.
Musk also owns Neuralink, a brain chip startup aimed at helping paralyzed individuals regain movement.
A slice of Musk’s wealth also comes from perhaps his most controversial business: social media platform X. Elon Musk acquired the social media platform X (formerly known as Twitter) for approximately $44 billion in October 2022.
