Elon Musk Set to Become the World's First-Ever Trillionaire Very Soon

Elon Musk with a net worth of around $241bn is already the world's richest man and his company SpaceX is going to push him over the trillion-dollar mark in the coming years, according to Morgan Stanley.

By Moshiur RahmanPublished 2 years ago • 3 min read

The man is going to be the World's First Trillionaire very soon

Elon Musk, the owner of the electric car company Tesla and the space exploration wing SpaceX, is going to be the world's first-ever trillionaire according to Analysts at Morgan Stanley. Although most of his net worth, currently around $241bn comes from selling electric cars, the investment bank forecasts that his becoming a trillionaire will be a reality soon because of SpaceX, which will also be the most valued company on the planet. In January this year, he became the world's richest man, overtaking Amazon’s Jeff Bezos, whose net worth is around $200bn.

SpaceX, founded in 2002, has become a ray of hope to the whole of humankind regarding taking humans to space, exploring Mars and Moons. SpaceX’s Starship reusable rockets, currently carrying people and cargo to space, have boosted confidence among the investors who are ready to pour money into it to benefit from the newly born space tourism industry. potential industries like space infrastructure, Earth observation and deep-space exploration could make the company worth $200bn very soon, turning it the second biggest privately held company in the world where Elon musk owns 48% of its shares. Moreover, SpaceX's reusable rockets will be instrumental in cutting significant costs in taking humans to space and Mars, resulting in increased profits for the company and cheap space travel. The Starlink Low-Earth Orbit (LEO) internet service through which the company will provide a cheaper internet network from the space satellites, will be another money-making machine, which may revolutionize the holistic concept of internet services bringing the whole world under the same faster cheaper network that can be accessed from any remote place on the earth.

Morgan Stanley analyst Adam Jonas said,“What SpaceX is doing on the shores of South Texas is challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure,”

He compared SpaceX's starship with the internet, stating that Google was not possible without the invention of the internet. Likewise, space is not possible without starships.

Elon Reeve Musk was born on 28 June 1971 to a Canadian mother and an African father. His father, Errol Musk, was a versatile man being a South African electromechanical engineer, pilot, sailor, consultant, and property developer. After his parents got separated in 1980, he started to live with his father and developed a deep passion for computing and physics. In his educational life, he first went to Pretoria University in Africa but after spending just five months there, he came to Canada with his cousin. Here he took admission to Queen's University in Kingston, Ontario and two years later, he moved to the University of Pennsylvania. He graduated in 1997 with a Bachelor of Science in Economics and a Bachelor of Arts in Physics.

In 2001, Musk was involved with a non-profit organization called "Mars Society". Their idea of a growth chamber for plants on Mars inspired Musk very much and he himself showed the interest to invest in the project. In 2002, he visited Russia for purchasing refurbished Intercontinental ballistic missiles (ICBMs) that could send the greenhouse payloads into space but he got rejected. Next time, he again visited but this time he was offered a rocket for $8 million but he turned down the proposal. Instead, Musk decided to build a company that can manufacture affordable rockets. With the $100 million that he earned from his early fortune, he founded Space Exploration Technologies Corp., traded as SpaceX, in May 2002. Till now, he is the company's CEO and is also known as the Chief Engineer.