Elon Musk, the CEO of Tesla and SpaceX, is on track to become the world’s first trillionaire due to his expanding business empire. Currently, Musk holds the title of the wealthiest person on the planet, with a net worth estimated at over $250 billion (KSh 32.27 trillion), according to CNN. His wealth is primarily tied to his ventures in electric vehicles, space exploration, and social media.
Reports suggest that Musk could achieve trillionaire status by 2027 if his wealth continues to grow at its current rate. The billionaire’s net worth has been increasing by approximately 100% annually, making him nearly unstoppable in the global race for wealth. The Mirror US reported that this rapid growth leaves Musk’s competitors, including other billionaires like Jeff Bezos and Bernard Arnault, struggling to keep pace.
Alongside Musk, Nvidia CEO Jensen Huang, with a net worth of $104 billion (KSh 13.5 trillion), is projected to become a trillionaire by 2028. Indian billionaire Gautam Adani is also expected to reach the milestone a year later.
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Musk’s road to becoming the richest man in the world began with his first startup, Zip2, which he co-founded with his brother, Kimbal Musk. The company was sold to Compaq in 1999 for $307 million (KSh 39.6 billion). Musk then went on to co-found X.com, an online banking platform, which eventually merged with Confinity to form PayPal. In 2002, eBay purchased PayPal for $1.5 billion (KSh 193.6 billion), further boosting Musk’s fortune.
Background on Elon Musk:
Elon Musk, born in South Africa in 1971, moved to the United States to pursue higher education and entrepreneurial opportunities. After his early success with Zip2 and PayPal, he founded SpaceX in 2002 with the goal of revolutionizing space travel. Musk also became the CEO of Tesla in 2008, transforming the electric vehicle industry. Known for his visionary thinking, Musk is also the owner of X (formerly Twitter), adding social media to his vast empire.