How Elon Musk becomes a billionaire?
Elon Musk is well on his way to stepping into a new dimension of wealth. A study by Approve analyzing the wealth of the rich and powerful concludes that by 2024 Elon Musk will become the first trillionaire in human history, thanks to the tremendous success his companies, Tesla and SpaceX, have achieved over the years have achieved.
A new dimension of wealth
According to the study results, Musk’s net worth has steadily increased by 129% year over year, which means he could go from billionaire to trillionaire in no time. Approve projects he will “reach a net worth of $1.38 trillion by age 52 by 2024.” And that’s not necessarily because of Tesla, but because of his work at SpaceX, which brings him the most money. (Also read: Frugal Billionaires? this super-rich live modestly)
Besides Musk, Jeff Bezos and Bill Gates could join the first trillionaires group, but all indications are that they won’t do so before 2025. So it seems certain that. Will soon reach the trillion dollar mark – but what does that mean, and what can you do with this money? (Also interesting: Bernard Arnault: If you want to become a millionaire, you should follow these four rules )
A trillion dollars – what does that mean?
Imagination Station tries to put it with an odd but, for Musk, quite apt image: “It would take 14 years for a military plane traveling at the speed of sound and towing a roll of dollar bills to unroll a trillion dollar bills.”
And this is what a trillion dollars looks like in numbers:
1,000 = thousand
1,000,000 = million
1,000,000,000 = one billion
1,000,000,000,000 = one trillion
1,000,000,000,000,000 = quadrillion
According to Fox Business, a trillion dollars in $1 bills would weigh about 10 tons (an adult elephant weighs just over 6 tons), and you couldn’t spend all the bills in a single lifetime. More specifically, if you lived to be 100, you could “spend $54 million every day of your life and still have a few thousand dollars in the bank for your kids,” the news outlet. (Also: Forbes list: These are the ten richest billionaires).
What could $1 trillion buy?
- Twitter: You recall that Elon Musk intended to buy Twitter, although he later halted the purchase for the time being, and that he wanted to spend $44 billion on it, meaning he would have billions of dollars left after the purchase.
- SpaceX (multiple times) : SpaceX is currently valued at $100 billion. So if he didn’t own it anyway, Musk could buy the company today and still have $100 billion left, and if he were a trillionaire, that amount wouldn’t even hurt him. (More on this: The ten richest cities in the world: Most billionaires live here )
- The most expensive watch in the world: The Breguet Marie-Antoniette Grande Complication Pocket is the most expensive watch in the world today, but it costs a mere $30 million, meaning Musk could buy it as many times as he likes.
- All the Formula 1 cars he could ever want: Formula 1 cars range in price from 50,000 to 100,000 euros ($52,160 to $104,325), so Musk could buy a whole fleet of them and build his team for that he could pay even the best drivers in the world.
- Buckingham Palace: Queen Elizabeth II’s “home” is one of the most expensive in the world, reportedly worth $6 billion, and that means Musk could easily buy multiple palaces.
