Tesla boss could become first trillionaire by 2027

Billionaire Elon Musk's vast business empire, which spans everything from electric cars and social media to space rockets and tiny brain implants, could soon make him the world's richest person with a fortune of up to a trillion dollars.

Musk's business success has made him one of the most influential and controversial people in the world.

Tesla's boss is now the richest person on the planet, with an estimated fortune of nearly $250 billion.

According to Informa Connect Academy's forecast, billionaire Musk could become the richest person in the world with an expected asset value of 1,000 billion USD by 2027.

Informa notes that Musk's net worth is growing rapidly at an average rate of 110% per year, making him the "favorite" to reach the first trillion-dollar mark.

But Mr. Musk also faces some formidable competition. The rapid growth of Nvidia, the computer chip maker that is driving the development of artificial intelligence, could make Nvidia CEO and co-founder Jensen Huang a billionaire by 2028.

According to Bloomberg, Mr. Huang has a net worth of $104 billion.

Indian billionaire Gautam Adani is also on track to become a trillionaire by 2028.

Whether Musk reaches the first trillion-dollar milestone will depend largely on the future of Tesla, his biggest success.

The electric car company founded by billionaire Musk has become the world's most valuable car company, with a value of about $710 billion. This makes it worth more than Coca-Cola, Bank of America and Boeing combined.

Tesla is Musk’s biggest asset. He owns nearly 13% of the company, worth about $93 billion at current prices. If Tesla continues to grow, it could push Musk’s fortune past $1 trillion.

CNN quoted stock analyst Dan Ives at Wedbush Securities as saying that billionaire Musk has positioned himself to achieve new achievements in the coming years as Tesla takes full advantage of its fully autonomous driving system, Robotaxis and the future of electric vehicles.

Of course, that’s not a guarantee. Tesla faces fierce competition, especially from low-cost rivals in China. The company has struggled at times, with sales plummeting and its stock falling as much as 60-70% in 2022.

The automaker has also repeatedly taken cars back to the factory for repair, partly due to Autopilot feature errors.

Billionaire Musk revealed that Tesla had to file for bankruptcy in 2008 before receiving a last-minute rescue loan.

While Tesla is Musk's biggest asset, it's not his only one. He also owns stakes in tunnel builder The Boring Company and artificial intelligence startup xAI.

Then SpaceX, Mr Musk's spacecraft maker, made history on September 12 after conducting the first spacewalk by private astronauts.

According to Bloomberg, billionaire Musk owns about 42% of SpaceX shares, valued at $210 billion as of June 2024.

Billionaire Musk also owns Neuralink, a brain chip implant startup that hopes to help paralyzed people regain mobility.

Another part of Musk's fortune comes from arguably his most controversial business: social media platform X.

Billionaire Musk bought social network Twitter in 2022 for $44 billion and then renamed it X. However, X lost value quickly under Musk's ownership.