Mumbai: Industrialist Anand Mahindra, known for his astute social media statements, turned to Twitter to react to the news that Tesla CEO Elon Musk had reached a net worth of $230 billion.
While referring to a report showing Musk's net worth has surpassed billionaires Bill Gates, and Warren Buffet put together, Mahindra stated that market value is no longer a multiple of actual earnings.
"Market value is now not a multiple of current earnings, but a multiple of audacity, ambition, and courage," the chairman of Mahindra Group said.
"Rightly, that is a formula that promises outsize future earnings," his tweet further added.
Musk, who is also the CEO of SpaceX and the world's largest electric vehicle manufacturer, Tesla, is currently the wealthiest person on the planet.
The 50-year-old's wealth surpassed $241 billion as of October 20, according to Bloomberg's Billionaires Index, far ahead of Jeff Bezos's fortune of $199 billion, the second richest.
World's First Trillionaire?
With the rise of Tesla Inc., Elon Musk has already become the world's richest person. Billionaire Mahindra, with a net worth of $2 billion according to Forbes, may not be surprised to know that Musk is headed for a trillionaire status.
According to a Morgan Stanley analyst, it will be SpaceX, not the vaunted electric-car firm, that will propel him to a trillionaire.
In a note titled "SpaceX Escape Velocity... Who Can Catch Them?" Morgan Stanley's Adam Jonas wrote Tuesday that the private space exploration company "is challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles, and supporting infrastructure."
According to the Bloomberg Billionaires Index, SpaceX accounts for less than 17% of Musk's $241.4 billion net wealth. And it was after the company had been appraised.
That's after SpaceX was valued at $100 billion earlier this month in a secondary share sale.
SpaceX, according to Jonas, is a "many firms in one," including space infrastructure, Earth observation, deep space exploration, and other industries. His bull-case price for SpaceX is $200 billion. The company's Starlink satellite communications division accounts for the majority of its valuation estimate.
Musk has been dubbed the world's first trillionaire previously, primarily due to Tesla's expected stock performance. Musk's net worth has skyrocketed due to Tesla's hot streak, which began last year and hasn't really slowed down. It increased its founder's net worth by $6.6 billion just on Monday.
Musk owns around half of SpaceX, so the rocket business has a long way to go before it can lift its promoter into four-commas orbit.