Elon Musk is expected to become the world’s first trillionaire by 2027, yet he surprisingly lives in a modest box home near SpaceX.
Elon Musk is making headlines again, as he is set to become the first person in the world to reach a net worth of one trillion dollars.
According to a recent report, Musk could hit this remarkable milestone by 2027.
As of now, he is the richest person on the planet, with a worth of about $251 billion, based on the Bloomberg Billionaires Index.
Elon Musk on track to become richest person with net worth of $1 trillion
The report from Informa Connect Academy shows that Musk’s wealth is increasing at a staggering rate of 110% each year.
If this trend continues, he could achieve the trillion-dollar status within the next three years.
This rapid growth is not just about numbers; it reflects the success of his companies, especially Tesla.
Tesla’s success
Tesla, the electric vehicle company founded by Musk, is valued at around $669.3 billion.
The company’s growth rate is also significant, sitting at 173.3%.
This suggests that Tesla could reach a market value of over one trillion dollars as early as next year.
Such growth would not only boost Musk’s wealth but also solidify Tesla’s position as a leader in the automotive industry.
Elon Musk lives in a box home
Despite his immense wealth, Musk’s lifestyle is surprisingly modest.
He has chosen to live in a very simple house, often referred to as a “box home.”
In 2020, he made a bold decision to sell his five luxurious homes in California. Instead, he opted for a two-bedroom house in Boca Chica, Texas, where he spends most of his time.
This house is quite different from the grand estates he once owned.
Walter Isaacson, the author of the biography “Steve Jobs,” shared insights about Musk’s living situation.
He described how Musk works from his simple home, sitting at a wooden table and making calls.
Musk has emphasized his desire for freedom, stating that he wants to own very few possessions.
In a tweet, he mentioned, “I am selling almost all physical possessions. Will own no house.” This statement may surprise many, given his wealth.
Musk’s primary residence is a small, prefabricated unit from a company called Boxabl.
This foldable home measures 20 feet by 20 feet and is designed like a studio apartment.
It features a living area, a sleeping space, a kitchen, and a bathroom.
Musk has described this home as “kinda awesome,” despite its simplicity.
Previous properties
Interestingly, the total value of Musk’s previous homes was over $100 million.
He has stated that the only house he still owns is an events space in the Bay Area.
He explained that selling it would mean it would be used less often, unless it were purchased by a large family.
Living in such a small home does not seem to bother Musk.
He appears to be focused on his work and his companies rather than on material possessions.
His lifestyle choice is unusual for someone with his wealth, but it aligns with his personal values.