According to Morgan Stanley analysts, the current richest man in the world “Elon Musk” with an estimate of $283.8bn fortune is set to become the first Trillionaire. However, Analyst, Adam Jones believes that the 50-year-old Entrepreneur and Business Magnate who is the CEO of SpaceX and Tesla Might become the first Trillionaire. Not because of the over-hyped electric car “Tesla Inc’’ but will be SpaceX. While writing a note to investors, the financial institution analyst said “SpaceX is challenging any preconceived notion of what was possible and the time frame possible. In terms of rockets, launch vehicles and supporting infrastructures”.
Additionally, he stated that “More than one client has told us if Elon Musk were to become the first trillionaire. It won’t because of Tesla. Others have said that SpaceX may eventually become one of the most highly valued companies in the world and in any industry’’ Adam Jones added. While prediction of Elon of Musk becoming the first trillionaire is based on SpaceX.
However, that might not be completely true because Tesla recently announced a record Q3 Revenue and Profits. With total revenue growing to an all-time high of $13.76 billion USD. Hertz Placed an order for 100,000 Tesla cars for its fleet and this pushed Tesla’s value to $1 trillion. So, with this, we can say that Elon Musk is set to become the first Trillionaire. Not only due to his SpaceX Company but also due to the sudden high demand for Tesla’s cars.
What to Know about SpaceX?
On the contrary, SpaceX is an American-based Aerospace manufacture, space transportation services, and Communications corporation which headquarter is in Hawthorne California. The company was fonder in the year 2002 by the current world richest man Elon Musk. SpaceX was originally founded with the main goal of helping to reduce space cost transportation to enable colonization of mars.
It is also worthy to note that; SpaceX by Elon Musk is the first private company to have successfully launched and returned a spacecraft from Earth orbit and recover a spacecraft. Falcon 9 and Falcon Heavy launch vehicles, several rocket engines, Dragon cargo were all designed by the company. Meanwhile, SpaceX has topped a $100 billion valuation based on a private agreement between existing and new investors. The company currently makes up less than 17% of Elon Musk’s net worth. And that after SpaceX was valued at $100 billion in a secondary share sale earlier this month.
Could Analyst Adam Jones Prediction of Elon Musk Becoming the First Trillionaire True?
As stated above, Adam Jones one of the analysts of Morgan Stanley claims that Elon Musk could be the first Trillionaire because of SpaceX and not Tesla inc. Adam Jones claims that SpaceX’s current value of $100 billion could double to $200 billion. With his clients believing that this can make Elon Musk the first Trillionaire. He stated that ”SpaceX Starship reusable rockets that could take people and cargos to the moon and mars had the potential to transform investor expectations around the space industry and the world at large”.
Although his prediction could be true due to the fact that Elon Musk’s SpaceX is also now worth $74 Billion after the latest fundraising round. According to a report, Elon Musk SpaceX company recently completed an $ 850 Million fundraising round last week as it looks to raise capital for is its Starlink and Starship project. However, Elon Musk Tesla company should not be overlooked due to its Q3 Revenue and Profits. Don’t also forget that Musk overtook Amazon Jeff Bezos to become the world’s richest person in January. Although he slips back before regaining the top spot later in the year has the richest man in the world. In conclusion, Elon Musk CEO of SpaceX and Tesla Inc can become the first Trillionaire in the world.