Elon Musk on Track to Become World's First Trillionaire by 2033
Elon Musk, the visionary behind Tesla and SpaceX, is on track to become the world's first trillionaire, potentially by 2033 if certain conditions are met. This follows his recent purchase of 2.57 million Tesla shares, boosting his ownership to approximately 14.5%.
Musk's wealth has skyrocketed over the past five years, growing over 20 times from $24.6 billion in March 2020. A significant portion of his fortune is tied to his stakes in SpaceX (42% of shares, $168 billion) and xAI Holdings (53%, $60 billion). Despite no specific targets for becoming the 'first trillionaire', Musk has expressed ambitious goals for Tesla, including reaching a market capitalisation of $1 trillion.
In 2018, Tesla announced a massive stock options package for Musk, tied to performance targets. These include revenue growth, profit goals, and market capitalisation milestones. While not explicitly aiming to octuple Tesla's market cap or make Musk a 'trillionaire', the plan rewards Musk with options to buy Tesla shares upon meeting these targets. Musk became the world's wealthiest person in 2021 and the first to surpass $400 billion in December 2024. On October 1, Tesla shares rose nearly 4%, adding approximately $9.3 billion to Musk's fortune, bringing it to around $500 billion.
Elon Musk's wealth continues to grow, with his net worth potentially reaching $1 trillion by 2033 if Tesla meets certain conditions. His recent stock purchase and the growth of his stakes in SpaceX and xAI Holdings contribute to this. Despite no explicit targets for becoming the 'first trillionaire', Musk's ambitious goals for Tesla and the performance-based stock options suggest he's aiming high.
