Elon Musk to Achieve Trillionaire Status by 2027

New York(TDI): With an empire that encompasses everything from electric cars and social media to space rockets and tiny brain implants, Elon Musk is on his way to possibly being the first trillionaire in history.

By 2027, the 53-year-old software tycoon may become the first trillionaire in history, according to Informa Connect Academy. He is now the richest person on the planet, with a net worth of around $250 billion.

Elon Musk is the “clear favourite” to reach the $1 trillion mark first, as his net worth has been increasing at a rate of 110% annually on average, according to Informa.

Though it is mostly dependent on Tesla’s future, Musk’s greatest asset and the most valuable car company in the world with a $710 billion price tag, he also faces competition and difficulties in maintaining this position.

Currently valued at over $93 billion, Musk holds nearly 13% of the electric vehicle manufacturer.

The competition of Elon Musk

A business whose computer processors are driving the global artificial intelligence growth, Nvidia, may pose a challenge to Musk.

Also read: Nvidia’s Forecast Affects Tech Stock Optimism For AI

Informa claims that in 2028, Nvidia might make Jensen Huang, its co-founder and CEO, a trillionaire.

Bloomberg claims that Huang has a $104 billion net wealth. By 2028, Indian billionaire Gautam Adani is expected to reach the status of trillionaire.

Challenges of Elon Musk

Musk might be worth more than $1 trillion if Tesla keeps growing.

“We think Musk has set himself up to succeed even more in the upcoming years as Tesla capitalizes on Robotaxis, fully autonomous driving, and the future of electric vehicles,” Wedbush Securities senior equities analyst Dan Ives said to CNN via email.

Tesla still has to contend with strong competition, particularly from Chinese competitors that offer lower prices.

As a result of weaker sales in 2022 and numerous vehicle recalls, the corporation encountered difficulties, including a large decline in stock.

Also read: Hyundai, GM Unite for Future Automotive Solutions

Tesla was on the verge of bankruptcy in 2008, according to Musk, but it was able to survive thanks to a last-minute financing.

Tesla CEO’s other assets

Musk also has stock in The Boring Company, a tunnel construction company, and xAI, an AI startup, in addition to Tesla.

Neuralink, a firm that makes brain chips for implants with the goal of assisting paralyzed individuals in regaining movement, and SpaceX, a private spaceship manufacturer, are also owned by him.

The social media network X (previously Twitter), which Musk paid $44 billion to acquire in 2022, may also contribute to some of his riches.