Elon Musk on track to become the world’s first trillionaire

WHAT’S BEING CLAIMED:

  • Finance analysts have predicted that Elon Musk could become the world’s first trillionaire.
  • Musk is currently the world’s richest person with an estimated net worth of $222 billion.
  • The valuation of SpaceX increased to $100.3 billion earlier this month, up from $74 billion in February.

Elon Musk could become the world’s first trillionaire, according to a prediction made by investment firm Morgan Stanley.

However, it won’t be from his highly successful electric vehicle company Tesla. Instead, it’ll likely be from his fledgling space startup SpaceX, The Guardian reports, despite the fact that Tesla’s net worth is about $850 billion, almost 30 times SpaceX’s $30 billion price tag. 

Tesla became the most valuable American carmaker in 2020, eclipsing veterans such as Ford and General Motors, while SpaceX is still privately traded. 

The business mogul’s personal wealth recently ballooned to $222 billion, building his lead as the richest person in the world, according to Bloomberg’s Billionaires Index. 

SpaceX was founded in 2002 with lofty ambitions to send humans to Mars while bringing down the cost of space travel.

After SpaceX’s Falcon 1 failed to reach orbit three times but succeeded on the fourth try, his upstart company was strapped for cash and turning the page to its final chapter. 

At that point, NASA and SpaceX decided to enter a mutually beneficial partnership. 

Two days before Christmas 2008, NASA announced SpaceX had been awarded a $1.6 billion contract to fly supplies to the International Space Station, a program now known as Commercial Resupply Services.

“We’ve been working with SpaceX and Boeing on their systems for about the last ten years, transferring some of our knowledge of 60 years of human spaceflight to those companies, and helping them with their development, both financially and technically,” McAlister says.

The partnership has paid off for NASA. A seat that originally cost $80 million on Soyuz spacecraft now costs about $58 million on SpaceX’s rockets, says McAlister.

Most recently, SpaceX launched its first all-civilian crew into orbit. For three days, a physician’s assistant, an engineer, a professor and a billionaire circled the Earth in a rocket called Inspiration4.

Source: AOL.Com

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