Elon Musk: Trillionaire or Just Playing Wealthy Monopoly?
Summary
Elon Musk, the man whose bank account is suspiciously similar to a roller coaster ride, might just zippity-doo-dah his way to become the first trillionaire in three years! According to a fabulously optimistic report from Informa Connect Academy, if Musk’s wealth continues to grow at a dazzling annual rate of 110%, we might need a new nomenclature for rich folks by 2027. Think trillionaire; sounds fancy, no? Right now, our favorite space cowboy is flaunting a net worth of about $237 billion, which places him snugly at the top of Bloomberg’s Billionaires Index. But let’s not forget his wealth is like that last cookie in the jar—always fluctuating! His prized 20.5% stake in Tesla is as unpredictable as a cat on a hot tin roof, spiking and dipping based solely on how many cars he can convince people to buy—and how much the stock decides to party. Earlier this year, Tesla’s stock took a little tumble, dropping by 7% like it was trying to do the limbo after some less-than-stellar vehicle deliveries. This gloomy drop temporarily de-bulged Musk’s fortune, but he’s like a phoenix rising from the ashes—and lucky for him, a recent successful trip to China saw his wealth fluff back up a bit. But if we compare numbers from 2021, when he strutted around with about $340 billion, this year he’s got quite a bit of catching up to do. And let’s not act like it’s all sunshine and rainbows at all of Musk’s companies either; his social media venture, X (formerly known as Twitter), is like that kid in school who never gets picked for dodgeball—trying to regain advertisers who fled when he started wielding changes like a power-drunk wizard. Earlier this year, Fidelity even revealed that X is worth 71% less now than what it was at the time of his purchase. Ouch! Is it too late to get a refund? So, as Musk races toward the trillion-dollar finish line, he might find himself overtaken by some familiar faces. Nvidia’s Jensen Huang, Gautam Adani from the Adani Group, and Prajogo Pangestu from Barito Pacific are all trailing behind, expected to join the trillionaire club a year after Musk, unless they face a stock market hiccup too. Meanwhile, Zuckerberg is still plotting his course and looks set to crash the trillionaire party in 2030. In short, buckle up! We’re in for one wild financial ride, and if anyone can hang onto a trillion-dollar dream, it’s definitely the guy who just might send us to Mars and leave us in a financial daze.
Original Source: www.businessinsider.com
