Tesla market value crosses $500 billion in meteoric rally

Tesla market value crosses $500 billion in meteoric rally

Tesla Inc crossed $500 billion in market value on Tuesday as its share price surged six-fold this year.

CEO Elon Musk has added $100.3 billion to his net worth so far this year, according to the Bloomberg Billionaires Index.

Tesla has become by far the world’s most valuable automaker, despite production that is a fraction of Toyota Motor Corp, Volkswagen or General Motors Co.

Tesla is Wall Street’s seventh most valuable company, just behind Berkshire Hathaway, and its shares have rallied over 30% since Nov. 16, when it was announced Tesla would join the S&P 500 benchmark.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

multimedia

news