November 30, 2021

Taylor Daily Press

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Tesla is chasing tech companies, now worth a thousand billion dollars |  Money

Tesla is chasing tech companies, now worth a thousand billion dollars | Money

Tesla stock rose so quickly on Monday that the company is now worth over $1 trillion. That is one thousand billion dollars and converted into about 860 billion euros. Tesla is only the fifth American company to achieve this feat.




The reason for the big addition is a Billion dollar order from Hertz rental company. That would have ordered 100,000 electric cars from Tesla.

Tesla’s share rose just under 10 percent in the stock market after that news, which was enough to break the $1 trillion barrier. Tesla is hunting tech companies like Apple, Microsoft, Amazon and Google’s parent Alphabet.

Since the beginning of this year, the value of Tesla’s stake has already increased by more than 40 percent. The electric car maker recently overtook social media company Facebook by market capitalization, making it the fifth largest publicly traded company in the United States.

For CEO Elon Musk, Monday’s price hike means his fortune will increase even more. Last weekend, Bloomberg News estimated his net worth at more than $250 billion. Investment bank Morgan Stanley predicted Musk would become the first billionaire. That will mainly be because his space company SpaceX could become more valuable, although Tesla is still worth more.

The second billionaire in the list of the richest people, Amazon founder Jeff Bezos, has a fortune of less than $ 200 billion, according to Bloomberg.