An analyst at Morgan Stanley said that Musk is on track to become the first person with a 13 figure fortune because of the huge growth potential of SpaceX, his rocket company. We apologize, but this video has failed to load.
Tap here to see other videos from our team. Try refreshing your browser, or Elon Musk is on track to become the world's first trillionaire It came as Tesla's net income, operating profit and gross profit hit all-time highs during the third quarter despite a global microchip shortage. Revenues climbed 57 per cent to US $13.8 billion for the three-month period, and profits surged by 77 per cent to US $3.7 billion. The company reported earlier this month that it had delivered 237,823 cars in the quarter and produced 241,300. Chip shortages and port congestion prevented Tesla's factories from running at full speed, the company said, but bosses claimed that its production teams had confronted the issues with ingenuity, agility and flexibility that is unparalleled in the automotive industry. Musk has been the main driver behind Tesla s astronomical wealth due to its surging share price, which has jumped by 18 per cent since the start of the year. At present SpaceX comprises around 17 per cent of the entrepreneur's US $241.4 billion fortune according to Bloomberg s Billionaire Index. But in a note, Adam Jones of Morgan Stanley said that SpaceX was challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure He added that SpaceX is one business that comprises of multiple different companies, from earth observation and space infrastructure to deep space exploration and other industries — all of which show potential.