Elon Musk, whom currently assumes the role of the world’s richest person, could eventually become the first trillionaire in the world, thanks to his space exploration company SpaceX.
According to Morgan Stanley analyst and Tesla bull Adam Jonas, Musk’s ambitious projects with SpaceX could be the key that propels the billionaire— who currently sits on an estimated fortune of $241 billion— to become the world’s first trillionaire. Although his publicly-traded company Tesla has helped earn the majority of his fortune due to the accelerating popularity for EVs, it will ultimately be SpaceX’s success that will garner the entrepreneur even more money as per Jonas.
That is because SpaceX, which was originally founded in 2002, was already “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure,” explained Jonas. Given that SpaceX has the capability to reuse rockets while transporting people and cargo to the moon and even to Mars, it could potentially revolutionize investors’ expectations surrounding the space industry.
The Morgan Stanley analyst estimates that SpaceX’s valuation currently sits at around $200 billion, which will likely continue to increase as the company expands into other industries, such as space infrastructure, deep-space exploration, and Earth observation. SpaceX was recently valued at $100 billion as per a secondary share sale earlier this month, making it the second-largest private company in the world.
Information for this briefing was found via Morgan Stanley and Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
