Elon Musk may soon become the world’s first trillionaire

Elon Musk’s sprawling empire — spanning everything from electric vehicles and social media to space rockets and miniature brain implants — may soon make him the world’s first trillionaire, CNN reports.

Musk’s business success has made him one of the most influential — and controversial — people in the world. The Tesla boss is already the richest person on the planet, with a fortune estimated at nearly $250 billion.

Now, Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027.

Informa notes that Musk’s net worth has been growing rapidly at an average rate of 110 per cent per year, making him the “clear favorite” to hit the $1 trillion first.

Whether Musk gets to the trillion-dollar mark first — or at all for that matter — will depend in large part on the future of his biggest success: Tesla.

The EV maker founded by Musk has become the world’s most valuable auto company, with a price tag of about $710billion. That makes it worth more than Coca-Cola, Bank of America and Boeing combined.

Tesla is easily Musk’s biggest asset. He owns nearly 13 per cent of the company, a stake worth about $93 billion at current prices.

Musk owns another 303 million stock options linked to his epic and controversial compensation package, which was struck down by a judge but then revived and approved by shareholders.

If Tesla continues to thrive, it could push Musk’s fortune beyond $1 trillion.