Analyst Can See Elon Musk Becoming A Trillionaire But Not Because Of Tesla

Tesla Inc. TSLA CEO Elon Musk — already the world’s richest person — would likely be elevated to trillionaire status by his space venture SpaceX, according to a Morgan Stanley analyst, Bloomberg reported.

What Happened: SpaceX is challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure, analyst Adam Jonas reportedly said in a note to investors.

See Also: Elon Musk's SpaceX Gets Wide Public Support And Some Criticism In First FAA Hearing Over Boca Chica Launch Program

Why It Matters: SpaceX was founded by Musk in 2002 with the objective of making space travel cheaper and colonizing Mars.

It was reported earlier this month that SpaceX attained a valuation of more than $100 billion following a secondary share sale by insiders. The valuation increase added $11 billion to Musk’s wealth, according to Bloomberg.

Jonas had said in an October 2020 note that important milestones with Starlink, Starship and government contracts dovetail to support a base case enterprise valuation for SpaceX of $101 billion, with the bull case valuation at $203 billion.

Musk’s current net worth is $241 billion, according to the Bloomberg Billionaires Index, thanks to the surge in Tesla’s stock this year.  

The world’s richest man recently passed another milestone after his net worth exceed the combined net worth of two fellow billionaires — Microsoft Corporation MSFT co-founder Bill Gates and Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) founder Warren Buffett.

Price Action: Tesla shares closed almost 0.7% lower in Tuesday’s trading at $864.27.

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Photo: Courtesy of Daniel Oberhaus via Flickr