Tesla market value crosses $800 billion for the first time

(Reuters) – Shares of Tesla Inc jumped as much as 5.6% on Friday, pushing the electric-car maker’s market capitalization to more than $800 billion for the first time ever and inching closer to the trillion-dollar club.

By 

Tesla’s stratospheric rally has helped Chief Executive Officer Elon Musk surpass Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday.

At today’s session high, Musk’s 21% stake in the automaker as per Forbes contributes more than $170 billion to his net worth, dwarfing the combined market capitalization of General Motors, Ford Motor Co and Fiat Chrysler Automobiles, the three Detroit automakers.

In the previous session, Tesla’s market value crossed $774 billion, making it Wall Street’s fifth most valuable company, just behind Google-parent Alphabet Inc and ahead of social media giant Facebook Inc.

The company’s fortunes is an anomaly as the 17-year-old automaker has production that is just a fraction of large rivals by sales such as Toyota Motor, Volkswagen and General Motors.

Reporting by Akanksha Rana and Subrat Patnaik in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles.

Source https://www.reuters.com/article/us-tesla-stocks/tesla-market-value-crosses-800-billion-for-the-first-time-idUSKBN29D1VM


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
Share Talk
Share via
Copy link
Malcare WordPress Security