Elon Musk could become the world’s first trillionaire

Elon Musk is already the richest man in the world – but the figures show he just keeps getting richer and could become the first trillionaire in the world.

Despite massive, record-breaking losses in 2023, he ended the year richer than the previous one.

Tesla had setbacks like the Cybertruck costing more than expected and the pickup being unlikely to make it to Europe.

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The EV company lost more than $94 billion in market valuation in the first two weeks of 2024, per Fortune.

Largely due to the forecasted success of SpaceX, it’s thought he’ll reach the unprecedented financial milestone of trillionaire by 2034.

And, despite setbacks like failed launches in the soon-to-be trillionaire CEO’s bid to make life “multiplanetary”, it’s had massive achievements.

What’s more, the space mission of Elon Musk partnered with NASA and gained a contract to resupply the International Space Station – both key factors in helping Musk’s wealth rocket to infinity and beyond.

SpaceX’s growing achievements in space exploration and its partnership with NASA, which includes contracts for resupplying the International Space Station (ISS), are key factors driving Musk’s wealth growth.

Although some of his other business endeavors are highly successful, it is SpaceX that is expected to be the primary contributor to Elon Musk reaching the trillion-dollar mark​​.

Musk topped Forbes’ list of the world’s wealthiest people as of 1 January, 2024 after being overtaken in the world’s richest man list by Bernard Arnault in 2023.

The combined wealth of the 10 richest men totals almost $1.47 trillion.

According to data from Forbes, this total is $350 billion higher than the combined net worth of 2023.

That came to $1.12 trillion.

And Musk is in good company with familiar names including Bill Gates and Mark Zuckerberg up there with him in seventh and fifth place respectively.