His well-known car company Tesla has for some time suffered not very pleasant consequences due to the colorful, to put it mildly, posts on Twitter that Musk has been able to post lately. He is also facing negative reactions from other investors, such as Microsoft’s leading man, and as these three years have shown, also a supposed expert in virology and epidemics, Bill Gates.
All of this affects the shares of Elon Musk and his companies. He was also recently targeted by sexual harassment charges. Elon Musk currently has a net worth of $ 263 billion (a value recorded earlier this year). Since 2017, Musk’s fortune has recorded an average annual increase of about 129%, meaning he can enter a club worth a trillion dollars in just two years. Reports suggest it could gain an incredible net worth of $ 1.38 trillion by 2024.
A famous quote reads: “You need to spend money to make money.” Musk has invested a reward from PayPal sales, valued at about $ 180 million, in his new companies SpaceX and Tesla. Tesla, a well-known electric car company, contributes immensely to Musk’s staggering wealth, as it holds a 23% stake in the company. SpaceX is also responsible for generating huge revenues by charging commercial and government clients to send a variety of things into space, including supplies for ISS, satellites and astronauts. The two companies are solely responsible for contributing much of Elon’s wealth as his fortune increased from $ 25 billion in 2020 to $ 263 billion in 2022. Approve’s study, “The Trillion Dollar Club,” suggests that Elon Musk should become the first trillionaire on world given its current growth and projected revenue.
However, much can still go wrong, and his business can turn drastically, as was the case with Musk’s Twitter business, for example. Tesla may also have to pull cars under government investigation due to autopilot problems, another reason Musk’s breakthrough into the trillion club may slow down.
All in all, there is no doubt that Elon Musk is one of the richest people in the world. Many things testify to this. Despite the problems he faces, Musk continues to amass wealth. For this reason, it is reasonable to believe that the claim that Musk will become one of the trillionaires is not related to the question “will” but “when will he become”.
Writes: Ivan Hečimović