Tesla CEO and billionaire entrepreneur Elon Musk could be set to become a trillionaire in the years to come, as depicted in a new round of research.
A new study conducted by Tipalti Approve is predicting that Musk will become a trillionaire by 2024, according to Yahoo Finance.
The study is based on annual growth trends, and Musk’s current net worth, which is around $200 billion and reached $263 billion during mid-January.
Elon Musk to Resign from the Board of Endeavor Group in June https://t.co/u7reWjg3OB
— TeslaNorth.com (@RealTeslaNorth) March 18, 2022
Alongside Tesla, Musk’s space exploration SpaceX has been profitable through various launches for the U.S. military and the unveiling of the company’s Starlink satellite internet.
In the report, Approve said, “Since 2017, Musk’s fortune has shown an annual average increase of 129%, which could potentially see him enter the trillion-dollar club in just two short years, achieving a net worth of $1.38 trillion by 2024 at age 52.”
The company continued, “SpaceX generates massive incomes by charging governmental and commercial clients to send various things into space, including satellites, ISS supplies, and people.”
While it can be tough to predict the growth of wealth in many cases, Musk’s rise to become the world’s richest citizen is expected by most to continue increasing — especially since the world’s electric vehicle (EV) and satellite internet markets are just beginning to bloom.
