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The electric car maker and space enthusiast Elon Musk is on course to become the world’s first trillionaire. Analysts at investment banks are going gaga over the prospect of a trillionaire on earth as Tesla raced to a record quarter with revenues of $13.8 billion and profits of $3.7 billion despite a global chip shortage cramping car production. The potential of Musk’s rocket company SpaceX places Musk in pole position for gathering wealth to a stupendous trillion dollars. Thanks to its surging share price which went up by 18% just this year, Tesla is still the main driver behind Musk’s wealth whereas SpaceX comprises only around 17% of his $241.4bn fortune, according to Bloomberg’s Billionaire Index. While SpaceX comprises multiple different companies, from earth observation and space infrastructure to deep-space exploration and other industries, his satellite communications business Starlink is behind a $200-billion valuation estimate. It is almost like Star Wars now as satellite broadband market players are launching satellite constellations that will blanket the earth with high-speed connections. Tomorrow’s broadband is likely to come down to earth from satellites, replacing expensive optic fibre cable laying. The race for number one ranking on the personal wealth index is loaded in favour of Musk who has made so many sunrise industries viable, most of all the Tesla electric car that the world laughed at when it made its debut.
