Last Updated on 09/09/2024 by Arun jain
Elon Musk is on track to quadruple his fortune and become the world’s first dollar trillionaire in just three years, new research suggests.
The South African-born entrepreneur, 53, owns companies ranging from Tesla Two X, formerly known as Twitter, already ranks as the richest person in the world.
This SpaceX According to Bloomberg’s Billionaires Index, the founder’s net worth is $251 billion (£191 billion), growing at a rate of 110 per cent every year.
If his wealth continues to grow at this rate, Mr Musk will become the world’s first US dollar trillionaire by 2027, according to data from research firm Informa Connect Academy.
Mr. Musk’s first significant business venture was in 1995 when he founded Zip2, a company that provided maps and business directories to online newspapers.
Zip2 sold for $307 million just four years later.
Mr Musk then co-founded X(dot)com, later known as PayPal, a platform that allows users to spend, send and receive money online.
After the turn of the century, Mr. Musk became the largest investor and CEO of leading electric vehicle maker Tesla.
It also launched rocket producer SpaceX.
Both companies have been hugely successful, especially Tesla, which has a very high growth rate. Tesla alone could be worth $1 trillion by next year.
In 2022, he moved to social media with his high profile $44 billion purchase of Twitter.
Mr. Musk almost immediately rebranded the site, which was originally founded in 2006 as X, to significant backlash from some users and advertisers.
The billionaire has since used the platform to express his political beliefs.
Mr. Musk, who said he voted for Joe Biden in 2020, Endorsed Donald Trump After the assassination attempt against the former US president in July – before the November election.
His online views are not limited to American affairs.
Over the summer, Mr. Musk became embroiled in controversy Around the riots in the UK and accused Prime Minister Sir Keir Starr of curtailing freedom of speech.
Recently, quarrel with Supreme Court of Brazil Due to which X was banned in the country.
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