Elon Musk’s Tesla reached a new milestone on Monday, surpassing the $1 trillion mark in market capitalization.
Elon Musk’s Tesla reached a new record on Monday, achieving the $1 trillion mark for market capitalization and the price surged 12.66 percent on the back of a huge order from the car rental giant Hertz. Due to this increase in market value, Tesla is more valuable than the top five BSE-listed companies. In addition to the increase in Tesla Inc share price, Elon Musk’s wealth has also increased to a staggering $36 billion according to Bloomberg Billionaires Index, extending his reign as the richest person in the world in the world, ahead of Amazon’s Jeff Bezos.
market cap of Tesla is higher than RIL, TCS, and more
Tesla’s market capitalization in the NASDAQ index was $1.02 trillion as of the close, with the price of its stock at $1,024.86 per share. The market capitalization of the five most significant BSE companies is 51.67 lakh crore or the sum of $688 billion ($1 = 75.02). It comprises Mukesh Ambani’s Reliance Industries Limited ( RIL) the most significant company listed on BSE with a market capitalization of 16.50 million crores.
Other BSE firms whose market value has been dwarfed by Tesla include Tata Consultancy Services which has a market value in the region of 12.91 lakh crores, HDFC Bank at the rate of 9.17 lakh crore Infosys at the price of 7.24 lakh crore, and ICICI Bank with a market capitalization of 5.8 million crores.
Since May’s end this year, the price of Tesla’s shares has risen by a staggering 64 percent. The stock hit a 52 week highest of $1,045 a shares on the Monday. The recent uptrend in the shares came after Hertz Global Holdings handed Tesla the largest ever purchase of more than 100,000 electrical vehicles. According to Reuters the deal is primarily for the Model 3, which is also the top-selling car in Europe. While P/Diluted EPS is lower than the extra (trailing) on a basis of Tesla values the stock at 296.2x however, analysts remain positive about Tesla, with the majority of analysts recommending investors to “Hold the stock’ according to data from S&P Capital IQ.
Elon Musk cements position as the richest person
Elon Musk has increased his advantage ahead of Jeff Bezos as the world’s most wealthy man by $96billion. As his net worth shot up to $289 billion and added $36 billion within a single day. This year, Elon Musk has added $119 billion to his wealth. In the meantime, Jeff Bezos’ net worth is at $193 billion after losing $751 million on Monday.