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Reading: Elon Musk Nears World’s First Trillionaire Status with Diverse Business Empire
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PhotoNews Pakistan > Business > Elon Musk Nears World’s First Trillionaire Status with Diverse Business Empire
Business

Elon Musk Nears World’s First Trillionaire Status with Diverse Business Empire

Web Desk
By Web Desk Published September 20, 2024 2 Min Read
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Elon Musk confirms Twitter Migration to X.com. Photo: Medium
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Elon Musk is on track to potentially become the world’s first trillionaire, with a diverse portfolio that spans electric vehicles, social media, space rockets, and brain implants.

At 53, Musk is the wealthiest individual globally, with a fortune nearing $250 billion. Informa Connect Academy projects he could reach the trillion-dollar mark by 2027.

Informa highlights Musk’s average annual net worth growth of 110%, which makes him the top contender for reaching $1 trillion first.

Elon Musk is on track to soon become the world’s first trillionaire: https://t.co/82JyPmsbBq  #KAKEnews

— KAKE News (@KAKEnews) September 19, 2024

However, Musk’s journey to trillionaire status is not without obstacles, and it is largely tied to Tesla’s future. At approximately $710 billion, Tesla is his most significant asset and the most valuable auto company globally.

Musk holds nearly 13% of Tesla, equating to around $93 billion at current valuations.

If Tesla maintains its success, Musk’s wealth could surpass $1 trillion. “We believe Musk has positioned himself to achieve new heights over the coming years as Tesla capitalizes on full self-driving, Robotaxis, and the future of EVs,” Dan Ives of Wedbush Securities explained to CNN.

Read:Elon Musk Controls Two-Thirds of Active Satellites with SpaceX’s Expanding Fleet

However, Tesla faces aggressive competition, particularly from cost-effective Chinese rivals. The company has also faced setbacks, including a significant stock drop in 2022 due to decreased sales and multiple vehicle recalls.

They should. This man child acts as if because he may become the world’s first trillionaire that he can say and do whatever he wants without any regards for laws or basic human decency. Having money doesn’t make him above the law or any better than anyone else.

— ThomasMichaelsAuthor (@TMichaelsAuthor) September 19, 2024

Musk acknowledged that Tesla nearly went bankrupt in 2008 before securing a critical last-minute loan.

Beyond Tesla, Musk’s investments include The Boring Company, an AI startup xAI, and SpaceX, his private spacecraft manufacturing company. He also has a stake in Neuralink, a startup developing brain implants to help paralyzed individuals regain movement.

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