Elon Musk Is on Track to Become the First Trillionaire Thanks to SpaceX
Morgan Stanley analysts predict the world's richest man will become even richer.
Elon Musk is already the world's richest man with an estimated net worth of $219.6 billion, but as if that weren't enough, it looks like the Tesla CEO is on track to become the first-ever trillionaire.
While Musk has made most of his money from the electric vehicle giant, according to analysts at Morgan Stanley, it's his space exploration venture SpaceX, that's about to really put him on the financial map.
"More than one client has told us if Elon Musk were to become the first trillionaire ... it won't be because of Tesla," analyst Adam Jones said, according to The Guardian. "Others have said SpaceX may eventually be the most highly valued company in the world—in any industry."
Though SpaceX is privately held and will remain as such until the Mars Colonial Transporter is routinely shuffling passengers to and from the planet, it is currently estimated t be worth around $200 billion.
But why SpaceX over Tesla, which is currently estimated at a whopping $850 billion itself? There's more opportunity, according to Jones. Namely, the ability to tap into other industries, including space infrastructure, Earth observation, and deep space exploration. That SpaceX price tag is only expected to skyrocket, no pun intended, in the years to come.
"[SpaceX] is challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles, and supporting infrastructure," Jones added.