The richest man on Earth could be well on his way to becoming the world’s first trillionaire with the help of his private space-exploration company.
Elon Musk earlier this month reclaimed his title for richest person in the world from Amazon founder and space rival Jeff Bezos due to surging Tesla stock that put his net worth above the $200 billion mark. According to Forbes, the Tesla and SpaceX founder is currently worth nearly $220 billion.
But while Musk’s wealth is largely attributed to the electric-car maker’s success, a Morgan Stanley analyst predicts Musk could venture into trillionaire territory with SpaceX, which currently makes up about 17 percent of Musk’s net worth, according to Bloomberg. The company was valued at $100 billion earlier this month, making it the world’s second-biggest privately held company.
Morgan Stanley analyst Adam Jonas wrote in a note to investors that the company’s Starship rocket technology “has the potential to transform investor expectations around the space industry,” according to CNBC.
“As one client put it: ‘talking about space before Starship is like talking about the internet before Google,” Jonas reportedly wrote. (Read more from “Will Elon Musk Become the World’s First Trillionaire?” HERE)