The SpaceX CEO is already the richest person on the globe. But according to a new report by Tipalti Approve, his already staggering wealth could soar to $1trillion (£763billion). Also the Telsa boss, Mr Musk, who also invented PayPal, currently has around $269billion (£205billion). Mr Musk’s first big venture started back in 1990s when he teamed up with his brother to form a company called Zip2.
It was an online business directory, which the brothers managed to sell to Compaq, a then-declining computer manufacturing giant, for $307million (£234million).
And $22million (£17million) of that went directly to Mr Musk.
But nearly 30 years later, that figure is like comparing a mountain to a molehill for the entrepreneurial giant.
And the sky is limit for Mr Musk, whose wealth is set to soar even further.
Tesla, which has seen a huge surge in value since 2020, is reportedly set to the biggest contributor to the boss’ wealth, according to the report.
That is because he has the majority ownership in the company
SpaceX has also soared in value, and would is also set to keep growing at a staggering rate, the report says.
The Tipalti Approve said:”Since 2017, Musk’s fortune has shown an annual average increase of 129 percent, which could potentially see him enter the trillion-dollar club in just two short years, achieving a net worth of $1.38 trillion by 2024 at age 52.
“SpaceX generates massive incomes by charging governmental and commercial clients to send various things into space, including satellites, ISS supplies, and people.”
Meanwhile Jeff Bezos, who founded Amazon in 1994, is trailing behind his billionaire counterpart Mr Musk as the second richest man in the world.
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But like his total wealth, his company is also currently lagging behind Mr Musk’s.
SpaceX has now become a major player in commercial space activity.
In 2021, it completed a record 31 launches, a large bulk of which were to support of the company’s Starlink satellite internet program.
And while Blue Origin has created a Blue Moon lunar lander uncrewed Moon missions like deploying lunar rovers, NASA opted for SpaceX to develop the human landing system for its upcoming Artemis missions.