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The world's richest man, Elon Musk, could be the first to hit $1 trillion by 2027, with his $251 billion fortune ahead of Tesla, SpaceX, Starlink and X
Elon Musk, the mogul behind giants like Tesla, SpaceX, Starlink and X (formerly known as Twitter), is on track to become the world's first trillionaire by 2027.
According to a report by the Informa Connect Academy, which tracks the fortunes of the richest people on the planet, Elon Musk's net worth is already impressive, reaching $251 billion, and continues to grow at a rate of 110% per year.
His revolutionary ventures in various areas, such as electric vehicles, space exploration and digital communication, are the main reasons for this meteoric financial rise.
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Elon Musk's climb to the trillion
The estimate that Elon Musk will hit the $1 trillion mark by 2027 is not far-fetched, given the financial performance of his companies.
Tesla, of which he is CEO and main shareholder, is the most valuable automaker in the world, with a market capitalization that exceeded US$1 trillion in 2021.
Musk owns about 13% of Tesla, plus 304 million stock options from his 2018 compensation package. However, those options are under review following a court ruling in 2024.
In addition to Tesla, SpaceX, another company founded by Musk, plays a vital role in his fortune. Valued at around US $ 210 billion after a June 2024 public offering, the SpaceX continues to innovate and lead the aerospace industry with the development of reusable rockets and ambitious plans for the colonization of Mars.
Elon Musk owns approximately 42% of the company, which contributes significantly to his growing net worth.
Another important factor in Elon Musk's financial growth is Starlink, a project within SpaceX that aims to provide high-speed internet via satellites. With thousands of satellites already in orbit, Starlink is expanding globally, increasing SpaceX's reach and generating substantial revenue.
The role of X and bold acquisitions
Musk also owns social media platform X, formerly known as Twitter, which he acquired in 2022 for $44 billion. AX, which has undergone several rebrands since the acquisition, has seen its market value fall 71% through June 2024, according to the Fidelity Blue Chip Growth Fund.
However, Musk still holds a 79% stake in the company, reflecting his commitment to transforming the platform into a central hub for digital communications.
Musk’s vision for X involves much more than traditional social media. He aims to expand the platform’s services to become a comprehensive tool for financial transactions, instant communications and even artificial intelligence.
Although the company's value has fallen, Musk continues to invest heavily in innovations, which could result in an eventual recovery and market value.
Musk's challenges for the future
Despite all his success, Musk faces some challenges, especially regarding his personal debts. He had pledged about 58% of his Tesla shares as collateral for loans totaling up to $3,5 billion.
Additionally, it is known that some of its SpaceX shares were also used as collateral for debt, although the full details of these transactions are not yet public.
However, these obstacles do not diminish the magnitude of his achievements. In addition to Tesla, SpaceX, Starlink, and X, Musk owns significant stakes in startups such as Neuralink, xAI, and The Boring Company.
These companies, focused on innovation in areas such as artificial intelligence, neuroscience and underground transportation, continue to attract substantial investment and promise to play a key role in Musk's financial future.
The Informa Connect Academy report, titled “2024 Trillion Dollar Club“, highlights that the rate of growth of Musk’s fortune is unprecedented.
No other billionaire has achieved this level of growth in such a short period of time. With the continued growth of his major ventures and his bets on innovative sectors, Elon Musk is paving the way to become the first trillionaire in history.
With Tesla revolutionizing the automotive industry, SpaceX dominating space and Starlink offering a revolution in global connectivity, Musk's financial future seems as limitless as his ambitions.
If these predictions come true, the world will witness a new era of wealth and innovation driven by one of the most daring entrepreneurs of all time.
