Bezos and Musk Will Both be Trillionaires in the Space Internet Age
Space launch and space satellites were already a $300 billion per year industry. Cloud Computing is a $200 billion market in 2018. Global Internet services is a $600 billion market. The Global IT market is nearing $5 trillion in size. The global Auto industry is $2 trillion in size. The Global supply chain industry is $40 trillion in size.
Space launch, Internet and communication, Internet of Things, Space mining, Space Colonization will each become future multi-trillion markets. Those that are already trillion dollar markets will become even larger.
Space will have a growing role in transforming IT, data and communications, finance, transportation and supply chains. Space-related technology will also transform cities.
Jeff Bezos is already worth $130 billion and has been worth over $168 billion before the pullback in Amazon stock prices. Bezos is clearly winning with eCommerce and cloud computing. He is making big moves revamping the global supply chain.
Elon Musk with Spacex is ahead of Bezos Blue Origin in Space Launch. SpaceX is turning space launch into something that will be bigger than commercial aviation with reusable rockets.
Elon is transforming cars with Tesla electric cars and a new train like transportation alternative with hyperloop and tunnels. Tunnels will also transform cities, sewers, water and other infrastructure.
Data and IT will have bigger roles in supply chain and finance. Space is becoming an enabling aspect of all of those areas and there is a convergence of AI, data, transportation, energy, finance and smart devices. Musk and Bezos are both playing in many of the converging areas. Many observers would say why is Musk or Bezos playing in so many different areas. The areas and companies can or will all connect and converge.
These existing and new areas are too large for even Bezos and Musk to achieve any monopolies. However, they can achieve dominant and profitable positions in some new areas. This will be vastly profitable and will help them win more in other areas.
There will be competitors from China and the entire world of entrepreneurs and business but Musk and Bezos seemed destined to be the first trillionaires.
Business Titans of the last Century
The 20th century was all about oil, cars, airplanes, electricity and phones.
The business titans at the start of the 20th century were John D Rockefeller and Henry Ford. Rockefeller had an inflation adjust net worth of $400 billion in 1913. Rockefeller had a peak of 90% of the US oil industry and about 1.5 to 2% of the US GDP. Henry Ford developed mass production and popularized the car. Ford had a peak net worth of $200 billion.
Aviation and Telecommunications became bigger in the latter part of the 20th century. There were telecom moguls and aviation moguls but none had anywhere near a monopolistic position. Telecom had ATT and national companies instead of individuals owners.