According to an investment bank, Elon Musk, the world’s richest man, who is worth an estimated $241 billion, might become the first trillionaire.
Morgan Stanley analysts predict that Musk, who made much of his money from the electric vehicle company Tesla, will be able to generate a lot more money from his embryonic space exploration company SpaceX.
The business, which was created in 2002, was “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure” according to analyst Adam Jonas.
“More than one client has told us that if Elon Musk becomes the first trillionaire, it will not be because of Tesla,” he continued. Others have speculated that SpaceX could become the most valuable corporation in the world – in any industry.”
SpaceX’s Starship reusable rockets, which might transport people and cargo to the moon and Mars, according to Jonas, have the potential to change investor perceptions of the space business.
“Talking about space before Starship is like talking about the internet before Google,” he remarked, quoting one client.
According to Jonas, SpaceX could be worth $200 billion (£145 billion) and might increase even higher as it pursues a variety of prospective industries such as space infrastructure, Earth monitoring, and deep space research.
In a secondary share offering earlier this month, the company was valued at $100 billion, making it the world’s second-largest privately held company, trailing only ByteDance. SpaceX is owned by Musk, who owns about 48% of it.
Musk surpassed Amazon’s Jeff Bezos as the world’s richest person in January, only to lose ground later in the year before reclaiming the top spot. According to the Bloomberg billionaires index, he has a paper fortune of $241 billion dollars, roughly $42 billion dollars more than Bezos.
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