Elon Musk On Track To Become World’s First Trillionaire

Elon Musk On Track To Become World’s First Trillionaire

Elon Musk is on track to become the world’s first trillionaire, according to an analyst at financial firm Morgan Stanley.

Morgan Stanley analyst Adam Jones believes Tesla CEO Elon Musk will become the worlds first trillionaire thanks to the continued success of his aerospace company SpaceX.

“From our investor conversations, the sentiment on SpaceX has increased substantially along with the company’s valuation in the private market,” Jones wrote in a note.

“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,” he added.

Musk, who is the worlds richest man, saw his net worth surpass $230 billion over the weekend after shares at SpaceX, soared by 33%.

According to Bloomberg, SpaceX currently makes up around 17% of Musk’s wealth, while Tesla make’s up most of the rest.

Musk, recently announced that he plans to move Tesla’s headquarters out of Silicon Valley to the state of Texas, after personally moving their himself last December.

You can find more celebrity news on our website.

Source link

Entertainment