Story at a glance
- Morgan Stanley analyst Adam Jonas wrote a note to investors that SpaceX is “challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure.”
- “More than one client has told us if Elon Musk where to become the first Trillionaire…it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry,” Jonas wrote.
- According to Forbes, the Tesla and SpaceX founder is currently worth nearly $220 billion.
The richest man on Earth could be well on his way to becoming the world’s first trillionaire with the help of his private space-exploration company.
Elon Musk earlier this month reclaimed his title for richest person in the world from Amazon founder and space rival Jeff Bezos due to surging Tesla stock that put his net worth above the $200 billion mark. According to Forbes, the Tesla and SpaceX founder is currently worth nearly $220 billion.
But while Musk’s wealth is largely attributed to the electric-car maker’s success, a Morgan Stanley analyst predicts Musk could venture into trillionaire territory with SpaceX, which currently makes up about 17 percent of Musk’s net worth, according to Bloomberg. The company was valued at $100 billion earlier this month, making it the world’s second-biggest privately held company.
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Morgan Stanley analyst Adam Jonas wrote in a note to investors that the company’s Starship rocket technology “has the potential to transform investor expectations around the space industry,” according to CNBC.
“As one client put it: ‘talking about space before Starship is like talking about the internet before Google,” Jonas reportedly wrote.
Starship is the company’s fully reusable space transport system that’s currently under development in Boca Chica, Texas. SpaceX has successfully conducted high-altitude flight and landing of Starship prototypes, and has plans to send a version into orbit in the near future. SpaceX is aiming to eventually use the system to carry both crew and cargo to Earth orbit, the Moon and Mars.
SpaceX is also developing a high-speed broadband internet system it calls Starlink, and has launched more than 1,600 Starlink satellites into orbit. Musk has previously said Starlink could bring in about $30 billion in revenue per year, according to CNBC.
“What SpaceX is doing on the shores of South Texas is challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure,” Jonas reportedly wrote.
“More than one client has told us if Elon Musk where to become the first Trillionaire…it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry,” Jonas wrote, according to CNBC.
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Published on Oct 20,2021