Elon Musk, the world’s most famous entrepreneur and the CEO of two of the world’s top firms, SpaceX and Tesla, is on his way to becoming the first trillionaire.

Musk has risen to prominence above the rest of the globe in terms of private wealth, according to a new Morgan Stanley report published on Tuesday, thanks to his riches from the electric vehicle firm, Tesla.

According to the research, Musk’s aerospace business, SpaceX, will surpass the trillion-dollar milestone in the coming years. SpaceX’s future prospects are bright, according to Morgan Stanley analyst Adam Jonas, who views the company as a collection of companies bundled into one, encompassing space travel, infrastructure, and Earth evaluation. Jonas, on the other hand, considers the company’s Starlink satellite communications to be the most essential element in his $200 billion valuation.

Elon Musk, the CEO of Tesla and SpaceX, has surpassed Bill Gates and Warren Buffett as the world’s wealthiest person. His net worth is $230 billion, which is equivalent to Bill Gates’ and Warren Buffett’s combined fortunes. In January, Musk briefly surpassed Amazon CEO Jeff Bezos to gain the top spot on the list, but Bezos quickly recaptured the top spot. Musk had informed a worldwide business media organisation, “I’m sending Jeffrey B. a huge monument of the numeral 2.”

In the past, the competition between the two characters over aeronautical engineering and the future space tourism industry has caused controversy. Blue Origin’s space race hit a snag when it was denied a contract to build NASA’s space station.

The US space agency granted SpaceX a $2.9 billion contract in April, prompting Bezos’ company to take legal action. When speaking to an American space reporter, Musk replied with a picture of Blue Origin’s lander design, criticising its construction in the caption and silently mouthing that NASA found Blue Origin’s lander “unconvincing.”