There is no suitable Hungarian word for him, but billionaire businessman Elon Musk may soon become a trillionaire (one thousand billionaires), and for the first time on the planet.
Investment bank Morgan Stanley predicts that the value of PayPal founder and CEO Tesla, who now owns an estimated $241 billion ($75,000 billion) in assets, could soon increase by three zeros.
So Elon Musk may be the first private entrepreneur on Earth to set his fortune as 12 zeros
says Adam Jones, chief analyst at the investment bank.
Key to that is SpaceX, a private space research company that analysts say could propel Tesla into the world’s most valuable company.
SpaceX’s potential lies in its rocket technology, which could revolutionize space exploration, but most importantly pave the way for new industries.
Jones believes that a private space exploration company could be worth about two hundred billion dollars, and if the company gets into industries such as deep space exploration, creating orbital infrastructure, and Earth observation, the maximum growth in this value is the starry sky.
After this month’s secondary stock issue, SpaceX was valued at $100 billion, making it the second most valuable private company after Chinese tech company ByteDance, which owns TikTok. Musk owns about 48 percent of the shares.
Tech breakthrough surpassed Amazon czar Jeff Bezos in the fortune ladder in January of this year by $42 billion.
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