Elon Musk is on the way to becoming the world's first trillionaire.

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From electric vehicles and social media to space, rockets, and even micro-brain implants—these are the ventures that have built the business empire of the world’s richest person, Elon Musk. According to a report by CNN, due to all these endeavors, Musk could soon become the world's first trillionaire. Informa also stated that Musk’s wealth has been growing at an average rate of 110% per year. If this rate or anything close to it continues, there's little doubt that he will become the first trillionaire.

However, Musk isn’t without competition. According to Informa, Jensen Huang, the CEO of NVIDIA, one of the world's most valuable companies, could become a trillionaire by 2028. According to Bloomberg, Huang, the CEO and co-founder of NVIDIA, currently has a net worth of $104 billion.

NVIDIA’s contribution to the rise of artificial intelligence, powered by their high-performance chips, is a key factor in this. Recently, NVIDIA became the world’s top company by market capitalization. As the company grows, so does Huang’s net worth, making him a strong contender in the race to become a trillionaire. CNN also reported that Indian billionaire Gautam Adani could be on the path to becoming a trillionaire by 2028.

Musk’s path to becoming a trillionaire primarily depends on his most profitable company, Tesla, through which he initially gained recognition. Tesla is now the world’s most valuable auto company, with a market value of nearly $710 billion. It is more valuable than Coca-Cola, Bank of America, and Boeing. Musk owns 13% of Tesla’s shares, which are worth about $93 billion.

Additionally, Musk owns 303 million more stock options in Tesla, which is tied to his controversial compensation package. Initially, the court did not approve it, but later, shareholders gave their approval. If Tesla’s current trajectory continues, it won’t take long for Musk’s net worth to reach one trillion dollars.

Musk is one of the most influential and controversial figures in the world today, often making headlines for his eccentric activities. The world’s richest man already has a net worth of $250 billion.

Global research firm Informa Connect Academy suggests that he could become a trillionaire by 2027, and he is moving in that direction. Wedbush Securities' senior equity analyst, Dan Ives, told CNN in an email, 'We believe that, by capitalizing on the future of Tesla, robotics, and electric vehicles, Musk is preparing to take himself to new heights.'

However, Tesla’s journey hasn’t been smooth. The company has faced intense competition, especially from Chinese electric vehicle manufacturers. Additionally, in 2022, Tesla’s stock value dropped by one-third, creating further challenges for the company.

In fact, Tesla was on the brink of bankruptcy in 2008. They were just days away from filing for bankruptcy, but a last-minute loan saved the company.