Elon Musk is on track to potentially become the world’s first trillionaire by 2027, thanks to his vast empire that includes electric vehicles, social media, space exploration, and brain implants.
At 53, Musk is already the richest person globally, with a net worth nearing $250 billion. According to Informa Connect Academy, his wealth has been growing at an impressive average rate of 110% per year, positioning him as the leading candidate to reach the $1 trillion milestone first, as reported by CNN.
However, Musk faces stiff competition and various challenges. His fortune largely hinges on Tesla, his biggest asset and the world’s most valuable automaker, valued at around $710 billion. Musk holds nearly 13% of Tesla, a stake currently worth about $93 billion.
Competition on the Rise
Musk may need to contend with the rapid ascent of Nvidia, whose AI-driven computer chips are transforming the industry. Nvidia’s CEO, Jensen Huang, could potentially become a trillionaire by 2028, with a current net worth of $104 billion, according to Bloomberg. Additionally, Indian billionaire Gautam Adani is also aiming for a trillion-dollar status by 2028.
Challenges Ahead
Musk’s journey to a trillion-dollar fortune is contingent on Tesla’s continued success. “Musk has positioned himself for significant growth as Tesla advances in full self-driving, Robotaxis, and the future of EVs,” noted Dan Ives, a senior equity analyst at Wedbush Securities, in an email to CNN. Yet, Tesla faces increasing competition, particularly from lower-cost rivals in China, and has encountered difficulties in the past, including a notable stock drop and multiple vehicle recalls. In 2008, the company was nearly bankrupt before securing a crucial last-minute loan.
Musk’s Broader Ventures
Beyond Tesla, Musk has significant stakes in The Boring Company, an underground construction firm, and xAI, an artificial intelligence startup. He is also the founder of SpaceX, a private spacecraft manufacturer, and Neuralink, a company focused on brain chip implants designed to help people regain mobility. His wealth is further supplemented by his ownership of the social media platform X (formerly Twitter), which he acquired for $44 billion in 2022.
