Elon Musk’s SpaceX set to make him first trillionaire on planet earth

According to a recent Morgan Stanley analysis, Musk has risen to prominence above the rest of the world in terms of private wealth.

The analysis estimates that his aerospace company SpaceX will push Musk over the trillion-dollar mark in the coming years.

“More than one client has told us that if Elon Musk were to become the first trillionaire, it won’t be because of Tesla,” Morgan Stanley’s analyst Adam Jonas said, referring to the electric car company behind the majority of his wealth to date.

“Others have said SpaceX may eventually be the most highly valued company in the world in any industry,” Jones added.

Though humans are yet to reach Mars, it is one of Musk’s goals for the company via SpaceX’s Starship. The advanced launch system already has high expectations following the success of SpaceX’s Crew Dragon.

“As one client put it, ‘talking about space before Starship is like talking about the internet before Google,’ ” explains Jones.

Earlier this month, the valuation of SpaceX increased to $100.3 billion, up from $74 billion in February, according to CNBC.

The valuation made SpaceX which Musk owns about 48% of the corporation the world’s second-biggest privately held company.

SpaceX has celebrated a number of milestones this year, including successfully launching and landing a Starship rocket for the first time. Last month, SpaceX sent the first all civilian crew into orbit.

Musk is currently estimated to have a $242 billion net worth, according to the Bloomberg Billionaires Index, and Tesla still remains his biggest asset.

Musk’s fortunes have rapidly increased since the start of last year.

Back in January 2020, Musk was ranked 35th on the list of billionaires, but that year his net worth rose by $100.3 billion, making him the second-richest person in the world by November.

So far this year, the billionaire has increased his fortune by $72 billion, a 42.4% increase from this time last year.