Elon Musk Poised to Become World’s First Trillionaire by 2027
Elon Musk, the CEO of Tesla and SpaceX, is on track to become the world’s first trillionaire by 2027, according to a report from Informa Connect Academy. Musk’s meteoric rise in wealth is primarily driven by the surging value of Tesla stock, which experienced exponential growth during the COVID-19 pandemic.
At the beginning of 2020, Musk’s net worth stood at $28.5 billion, according to the Bloomberg Billionaires Index. By the end of that year, his fortune skyrocketed to $167 billion, largely due to Tesla’s rally in the stock market. Tesla shares, which were priced around $30 per share in January 2020, surged nearly tenfold to $300 by January 2021. As of September 2023, Musk’s net worth is estimated at approximately $265 billion, positioning him as the closest billionaire to reaching a trillion-dollar valuation.
Economic analysts highlight that Musk’s wealth growth is a result of founding companies that produce valuable, in-demand products. James Pethokoukis, an economic policy analyst at the American Enterprise Institute, explains that Musk, like other billionaires such as Jeff Bezos, is benefiting from the continued growth of the companies they built. “The reason that company keeps growing and growing is [it’s] producing something valuable that people want,” Pethokoukis said.
Tesla, in particular, has been a key driver of Musk’s wealth, as the company continues to dominate the electric vehicle market and expand its influence in clean energy technology. If the trend continues, Musk could soon make history as the world’s first trillionaire, further illustrating the growing wealth divide between billionaires and the rest of the global population.
