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25-10-2021 | Business

Morgan Stanley predicts that Elon Musk will become the world's first trillionaire as a result of SpaceX.

Elon Musk, the world's richest man, with an estimated $241 billion fortune, might become the first trillionaire, an investment bank has predicted.

Morgan Stanley analysts predict that Musk, who made a lot of money with Tesla, his electric vehicle company, will be able to make a lot more money with SpaceX, his fledgling space exploration company.

The company, which was founded in 2002, was "pushing any preconceived sense of what was achievable and the timeline possible, in terms of rockets, launch vehicles, and supporting infrastructure," according to analyst Adam Jonas.

"More than one client has informed us that if Elon Musk becomes the first trillionaire, it won't be because of Tesla," he continued. Others have speculated that SpaceX could become the most valuable company in the world - in any industry.”

The reusable Starship rockets developed by SpaceX might transport people and cargo to the moon and Mars, according to Jonas, have the ability to change investor perceptions of the space industry.

"Talking about space before Starship is like talking about the internet before Google," he remarked, quoting one client.

Jonas estimates that the privately held, SpaceX could be valued $200 billion (£145 billion) and might rise even higher as it explores a variety of prospective industries such as space infrastructure, Earth monitoring, and deep space research.

In a secondary share offering last month, the company was valued at $100 billion, making it the world's second-largest privately owned company, after internet firm ByteDance. SpaceX is owned by Musk, who controls around 48% of the company.

Musk briefly surpassed Jeff Bezos of Amazon as the world's wealthiest person in January, only to reclaim the top spot later in the year. He has a $241 billion paper fortune, roughly $42 billion more than Bezos, according to the Bloomberg billionaires index.

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