Elon Musk Could Become World's First Trillionaire In Just 3 More Years. Here's Which Company Will Be Primary Driver
Tesla, which is valued at about $710 billion, stands as the most valuable auto manufacturer in the world, surpassing major corporations like Coca-Cola and Bank of America combined.
Elon Musk, the eccentric billionaire CEO of Tesla, SpaceX, and owner of X (formerly Twitter), may be on the brink of becoming the world’s first trillionaire. Currently the wealthiest individual globally, with an estimated net worth of around $250 billion, Musk's financial trajectory suggests he could reach this unprecedented milestone by 2027, according to a report by Informa Connect Academy.
Musk's wealth has been growing at an astonishing rate of 110 per cent annually, positioning him as the leading contender to achieve a trillion-dollar fortune. However, he is not without competition. Jensen Huang, CEO of Nvidia, is projected to potentially reach this milestone by 2028, thanks to the company’s pivotal role in the artificial intelligence sector. Huang currently has a net worth of approximately $104 billion. Indian billionaire Gautam Adani is also in the race, with similar projections.
Tesla A Primary Driver
Central to Musk's potential ascent to trillionaire status is Tesla, the electric vehicle company he co-founded. Tesla, which is valued at about $710 billion, stands as the most valuable auto manufacturer in the world, surpassing major corporations like Coca-Cola and Bank of America combined. Musk holds nearly 13 per cent of Tesla’s shares, translating to an asset worth about $93 billion.
Additionally, Musk possesses a significant stock option package tied to Tesla, which has faced its share of challenges. Despite its success, Tesla has dealt with intense competition, particularly from more affordable alternatives in China. The company experienced substantial stock declines in 2022 and has had to issue multiple vehicle recalls, including a major software issue related to its Autopilot feature.
In the past, he faced near-bankruptcy with Tesla and legal repercussions from regulatory bodies for misleading statements about taking the company private. These incidents highlight the precarious nature of Musk's ventures, as he navigates both business challenges and public scrutiny.
Musk's Other Moneymakers
Beyond Tesla, Musk has significant stakes in other ventures, including The Boring Company, focused on tunnel construction, and the artificial intelligence startup xAI. SpaceX, his aerospace enterprise, recently achieved a historic milestone by completing the first non-government spacewalk. Musk holds approximately 42 per cent of SpaceX, which is valued at around $210 billion.
Moreover, Musk's controversial acquisition of the social media platform X (formerly Twitter) has also affected his financial standing. Despite facing backlash for content moderation issues and his polarising statements on the platform, X remains a part of Musk's diverse portfolio.
Top Headlines
