Business

Elon Musk is about to become the world's first trillionaire

Musk could be worth a staggering $1.77 trillion by next week when SpaceX goes public. ©Image Credit: Wikicommons/ Heisenberg Media

As rich as Elon Musk is, he's about to enter a new stratosphere in personal finance. Musk is poised to become the world's first trillionaire potentially as early as next week, thanks to a public offering of SpaceX.

A trillionaire seems too big to comprehend

Billionaires are hard enough to wrap your head around, but the thought of a trillionaire is almost unimaginable. Musk currently owns $273 billion in stock options, and that number is set to skyrocket, excuse the pun, next week.

The initial public offering of SpaceX is expected to go extremely well. If everything plays out the way investors think it will, Musk's SpaceX stake will be worth around $841 billion. Combine that figure with his current $273 billion Tesla wealth and his actual total projected net worth could be around $1.11 trillion.

Not exactly cash in the bank

The thing about Musk's worth is that it's not a pile of cash. Yeah, a trillion dollars is hard to imagine, but the fact is that he doesn't have all that money sitting in a bank account.

Musk's wealth is termed paper wealth. It hinges on investors and how they value his two companies. If they see Tesla and SpaceX as profitable, stable companies with a strong future, he can expect to stay in the trillionaire category.

That also means if his companies suddenly took a nosedive, losing the confidence of investors, his wealth could quickly deplete.

Musk tops all other tech billionaires

As part of the "tech bros" group, Musk has been lumped in with people like Jeff Bezos (Amazon founder), Larry Page and Sergey Brin (Google founders), and Larry Ellison (Oracle founder).

Musk is already the richest of the tech bros, but if he becomes a trillionaire, he'll blow even further past them. Trillionaire status is going to be extremely hard to compete with.

Musk continues to set records

Like him or leave him, the fact remains that Musk continues to set records in terms of personal wealth. With SpaceX going public next week, you can expect a lot of people to get in on the action.

Source: CNN

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