Elon Musk, the CEO of Tesla and SpaceX, is poised to become the world’s first trillionaire by 2027, according to a recent global wealth report. Currently the richest person on the planet, Musk boasts a net worth of approximately $251 billion, as reported by Bloomberg’s Billionaires Index.
The report from Informa Connect Academy reveals that Musk’s wealth is increasing at an incredible rate of 110% per year. If this trend continues, he could reach the staggering milestone of $1 trillion within the next few years. The report also highlights Tesla’s impressive market value, currently estimated at $669.3 billion, with the company’s growth rate at 173.3%. This suggests that Tesla itself may achieve a market valuation of $1 trillion as early as next year.
Despite his immense financial success, Musk lives a surprisingly modest life. In 2020, he decided to sell all five of his luxurious California homes and move into a minimalist two-bedroom house located in Boca Chica, Texas. Walter Isaacson, the author of the biography “Steve Jobs,” mentioned in a post that Musk made this lifestyle change to embrace simplicity. He described Musk’s home as a spartan place equipped mainly for work, where Musk would often sit at a wooden table making business calls.
Musk’s decision to downsize and simplify his life was underscored in a tweet from 2020, where he declared, “I am selling almost all physical possessions. Will own no house.” He later explained that this was about achieving freedom, a sentiment that resonated with many of his followers.
In an interesting twist, Musk revealed in a 2021 tweet that his primary residence is a $50,000 prefabricated house that he rents from SpaceX. He jokingly referred to it as “kinda awesome,” pointing out that the only other property he owns is an event house in the San Francisco Bay Area.
The Wall Street Journal reported that Musk’s home is a 20-foot by 20-foot foldable unit manufactured by a startup called Boxabl. This modern housing solution resembles a compact studio apartment, featuring a large room with a living area, sleeping area, kitchen, and bathroom.
Despite being on the brink of becoming a trillionaire, it seems the financial milestone won’t alter Musk’s way of living. His choice to stay in a modest home appears to reflect a philosophy of simplicity over extravagance, distinguishing him from many other billionaires who often live in opulent mansions.
Elon Musk’s journey to potentially become the first person to reach the trillion-dollar mark is remarkable not only for his entrepreneurial achievements but also for his unconventional lifestyle choices. As he continues to redefine success in the tech world, Musk is serving as an unexpected role model demonstrating that wealth does not necessarily need to come with lavish living.
