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 “testing any preconceived sense of what was achievable and the timeline possible, in terms of rockets, launch vehicles, and supporting infrastructure,” according to analyst Adam Jones. He added: “More than one client has told us if Elon Musk were to become the first trillionaire … it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry.”
SpaceX's Starship reusable rockets, which might transport people and cargo to the moon and Mars, according to Jones, have the potential to change investor perceptions of the space business. He said: “As one client put it, ‘talking about space before Starship is like talking about the internet before Google.’”
According to Jones, SpaceX could be valued at $200 billion (£145 billion) and might soar 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 last month, the company was valued at $100 billion, making it the world's second-largest privately owned company, after internet firm ByteDance. SpaceX is owned by Musk, who controls around 48% of the company.
Musk surpassed Amazon's Jeff Bezos as the world's wealthiest person in January, only to reclaim the top spot later in the year. According to the Bloomberg billionaires index, he has a $241 billion paper fortune, which is nearly $42 billion more than Bezos.
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