Mega bucks for Musk

Elon Musk poised to become the world’s first trillionaire by 2024

Elon Musk is on track to become a trillionaire by 2024.

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Two Texas billionaires with ties to Austin are poised to join a club that currently has no members.

Elon Musk, head of Austin-based Tesla, and Michael Dell, chairman and CEO of Round Rock-based Dell Technologies, will be among the world’s first trillionaires, according to a new study from Tipalti Approve, which produces procurement software.

Musk is set to become the world’s first trillionaire by 2024, the study finds. That would make him the first person to reach that peak. Tipalti Approve projects his net worth will soar to $1.38 trillion by 2024, when Musk will celebrate his 52nd birthday.

The company based its projection on the 129 percent average annual growth of Musk’s net worth since 2017. Forbes estimates Musk’s net worth at $225.5 billion as of June 9, meaning he’s the richest person in the world.

Tesla and Musk’s other ventures, most notably SpaceX, will fuel his ascent to trillionaire status, according to the study.

“SpaceX generates massive incomes by charging governmental and commercial clients to send various things into space, including satellites, [International Space Station} supplies, and people,” the study says.

While Musk is on track to become a trillionaire by 2024, Dell’s entry into the trillionaires club will take a big longer. The study predicts Dell, with average annual growth in his net worth of 33 percent, will become a trillionaire by 2033.

Forbes puts Dell’s estimated net worth at $57.8 billion as of June 9. By 2033, Dell could be worth $1.26 trillion, the study says. At that point, he’d be 67 years old.

The study envisions Fort Worth billionaire Alice Walton, a Walmart heir, edging past the $1 trillion mark in 2042. At that time, she’d be 92 years old. As of June 9, Forbes estimates her net worth at $58.6 billion.

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Self-driving Roller Coaster

More self-driving cars expected to roll out in Austin for 2025

Photo courtesy of Waymo via KVUE

Various brands offering self-driving cars are on-and-off in Austin.

Expect to see more self-driving rideshare vehicles, also known as robotaxis, on Austin roads next year.

Robotaxi company Waymo, which you may have already seen on Austin's roads, is partnering with Uber. At some point next year, customers will be able to use the Uber app to call a self-driving ride.

Austin-based company Avride is in the testing phase and plans to roll out its robotaxis next year.

Currently, Volkswagen ADMT and Amazon's Zoox are in the testing phase in Austin, while Hyundai's Motional is in the mapping phase.

Last year, robotaxi company Cruise paused operations in Austin after the California Department of Motor Vehicles revoked the company's permits to operate driverless vehicles in the state. And last week, General Motors said it would no longer fund the company because of the time and resources needed.

This way of getting around has come with its safety concerns and issues. The city is tracking those concerns. According to the Transportation Department, the problems span from blocking the roads and parking in front of people's homes for weeks with lights beaming through their windows, to actual wrecks.

Since July 2023, robotaxis have been involved in 75 incidents. Only 21 of those incidents happened in 2024. It's important to note that Cruise has not been operating in Austin this year.

Since July 2023, driverless rideshare vehicles have been involved in 22 near collisions, eight collisions and seven instances where driverless taxis ignored directions from the Austin Police Department (APD).

According to the data, at least four of those Austin police incidents happened in recent months. The issues varied from driving through police checkpoints, to malfunctioning and getting stuck at an APD road closure near pedestrians, causing safety concerns.

A Waymo spokesperson said their vehicles have gesture recognition capabilities, which they've been training APD officers on using.

As the report shows, sometimes it does not work and Waymo said it is working to improve that. The spokesperson said that as of just last week, Waymo's First Responder Program has been independently verified by TÜV SÜD, making Waymo the first autonomous vehicle (AV) company to receive third-party validation for our emergency response protocols. They also said the data to date indicates the Waymo Driver is already reducing traffic injuries and fatalities in the places where the company currently operates.

Read the full story and watch the video at KVUE.com.

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