Elon Musk could become the world’s first trillionaire in 2024 thanks to SpaceX

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Elon Musk may be the world’s first trillionaire, according to some estimates. Elon Musk is a billionaire with an estimated net worth of 260 billion US dollars. He might become the world’s first trillionaire as early as 2024, according to some estimates. The estimate comes from the software business Tipalti Approve, which provided a prognosis for the rise of the entrepreneur’s wealth, which is highly associated with the values of Tesla and offers SpaceX a positive return on its investment.

“Since 2017, Musk’s wealth has increased by an average of 129 percent each year, putting him on track to join the trillion-dollar club within the next two years, with an estimated worth of $1.38 trillion,” according to the article. In spite of Tesla’s amazing stage, the analysis suggests that SpaceX will be the most important factor in the entrepreneur’s future success. It is stated in the paper that “SpaceX makes enormous money by charging governments and commercial clients to transport items into space, including as satellites, supplies for the International Space Station (ISS), and people.”

Space on a Falcon 9 rocket for payloads of up to 200 kg is now available under the company’s cooperative satellite transport model, which starts at $1 million and goes up from there. As a result, with a market capitalization of $100 billion, SpaceX surpassed Apple as the second biggest private firm in the world. Astronauts will go to the Moon in 2021, according to a $2.9 billion contract awarded to the corporation by NASA in April 2021. Since 1972, humans have not stepped foot on Earth’s natural satellite. This will be the first time this has happened.

Musk momentarily surpassed Jeff Bezos to become the wealthiest person on the planet in January 2021, when he took over first position in the Bloomberg Billionaires Index. At the moment, Musk’s net worth exceeds that of Jeff Bezos, the creator of the firm Amazon, by almost $70 billion. According to research conducted by Tipalti Approve, Bezos might join the trillion-dollar club by 2030.

This is not the first time that Musk has been labeled a contender for the title of the world’s first trillionaire. Morgan Stanley projected in October of last year that SpaceX would be responsible for taking the entrepreneur beyond the Earth’s atmosphere, but no specific date had been determined at that time. According to a Morgan Stanley analysis, a space exploration firm is comparable to just 17 percent of an entrepreneur’s existing fortune – and the company’s value has the potential to greatly boost his worth. Musk is believed to control half of the company’s stock, according to reports.

He wore a mask the previous year. In the magazine’s conventional rankings, he was chosen Person of the Year, and he was a member of the winning team. According to the magazine, he was chosen because of his desire to preserve the globe via the use of Tesla and SpaceX vehicles. In addition, a team has been assembled to draw attention to the billionaire’s unusual business practices, which has fueled the stock market (as in the case of Gamestop in early 2021, or encouraging the purchase of cryptocurrency).

Musk had other reasons to rejoice on Saturday, the second of the month. Tesla announced record sales of electric vehicles in the first quarter of the fiscal year, despite the fact that its production fell over the same time as a consequence of supply chain issues and the closure of a facility in China, according to the company.

A statement from the CEO was posted on Twitter, saying, “It has been an unusually tough quarter owing to supply chain interruptions and China’s zero covid-19 policy.” Tesla delivered 310,048 units in the third quarter, a small increase over the previous quarter and a 68 percent increase over the same period last year.

According to Refinitiv statistics, the Wall Street consensus was for 308,836 automobiles to be delivered this year. The company’s value, which is now $1.12 trillion, could rise even more as a consequence of the findings. While dealing with supply chain issues created by the epidemic, Tesla, the world’s most valued automobile manufacturer, saw a spike in sales – outperforming its rivals. A new factory in Shanghai, China, has aided the business’s expansion, but a recent surge in Covid-19 cases in the country has caused the company to temporarily halt operations there.

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