Why Elon Musk’s next move could rewrite the record books
The decisions made about one tech company could result in a complete rewrite of the record books.
This comes as the world’s richest man is set to make some life-changing moves involving his firm SpaceX.
Elon Musk is already worth around $852 billion according to Forbes, but the next couple of months could turn him into the world’s first trillionaire.
This comes after sources revealed to Bloomberg that SpaceX is aiming for a valuation of over $1.75 trillion by June 2026.
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If this goes ahead, then SpaceX will join the likes of Alphabet, Apple, Microsoft, and Nvidia as being of the five most valuable firms on the planet.
Last month, the space company officially bought Musk’s AI firm xAI in a merger that means they can both work as one system.
While SpaceX is still a privately owned company, Musk’s filing for an IPO could mean it’ll go public in the next few months.
The tech mogul previously made a huge step towards becoming the world’s first trillionaire after revealing he lives in a ‘box home’.
Despite his billions of dollars, the Tesla boss lives a surprisingly stripped-back life, with his living situation being described as far from extravagant.
When his ex-partner Grimes spoke to Vanity Fair, she claimed that Musk ‘lives at times below the poverty line’.
She continued: “To the point where I was like, ‘Can we not live in a very insecure $40,000 house? Where the neighbors, like, film us, and there’s no security, and I’m eating peanut butter for eight days in a row?’”
In recent years, Musk has been selling off his expensive property portfolio, sticking to his vow to get rid of his possessions to help fund his Mars colony dream.
Now, Musk claims to reside in a modest three-bedroom tiny home on Boca Chica/Starbase in Texas, which he rents from SpaceX for less than $50,000.
Musk made a post about it on his own platform X (formerly Twitter), saying: “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though.
“Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day.”
The 20-by-20-foot prefab unit is made by Boxabl, a startup aiming to transform housing by creating foldable homes that are pre-made on a factory assembly line.
Despite Musk’s stumbles in terms of his net worth when heading up the Department of Government Efficiency, his bank balance is back on the up as he edges closer than ever to that lucrative $1 trillion mark.