Tesla is worth over $ 1 trillion. Shares in the electric car maker rose approximately 12.7 percent in response to the news that Hertz placed an order for 100,000 cars. Elon Musk’s fortune has grown by $ 36.2 billion overnight and is approaching the limit of $ 300 billion.
Tesla ended Monday’s session with an increase of 12.66 percent. You have to pay over $ 1,024 per share. Investors reacted positively to the news that Hertz Glodal Holdings placed an order for 100,000. electric cars.
As a result, Tesla’s capitalization exceeded $ 1 trillion for the first time in history during Monday’s session. Morgan Stanley raised the target price for the company’s stock from $ 900 to $ 1,200.
Elon Musk – fortune
“There was only one star of the session in the US – Tesla quotations rose by 12.66 percent after information that Hertz will buy 100,000 Elon Musk cars. The recent bankruptcy (now the company is rebuilding with new owners) is also to buy vehicles without a discount (anyway says Musk on Twitter), which would be unprecedented in an order of this size “- Kamil Cisowski, director of the Analysis and Investment Advisory Team at Xelion Investment House indicated in the morning commentary.
“The increase meant that Tesla capitalization exceeded $ 1 trillion, and the richest man in the world is rapidly approaching the point where his fortune will be valued at over $ 300 billion for the first time in history,” Cisowski emphasized.
According to the Bloomberg Billionaires Index, Elon Musk’s net worth grew by $ 36.2 billion per day and is now valued at $ 289 billion. The billionaire has gained 119 billion dollars since the beginning of the year. Thus, his advantage over the next people on the list of the richest people in the world grows. The second, Jeff Bezos, with a net worth of $ 193 billion, loses $ 96 billion to him. Bernard Arnault is on the lowest step of the podium – $ 163 billion.
Tesla CEO Elon Musk is also the largest shareholder. According to Refinitiv, the 23 percent package. stake in the company is now worth around $ 230 billion. The Reuters agency noted that Musk is not getting paid from Tesla. Instead, it gets stock options that are triggered when Tesla’s market capitalization hits specific goals. Under the option, the billionaire can buy shares of a car manufacturer at $ 70 apiece, which is over 90 percent. cheaper than the current valuation.
In addition, be aware that Musk is the major shareholder and CEO of SpaceX. The space industry enterprise is valued at $ 100 billion.
Main photo source: Shutterstock