Tesla Market Value Crosses $800 Billion

Tesla Market Value

Shares of US automobile giant Tesla Inc jumped up to 5.6 percent on Friday. The market capitalization of the electric-carmaker crossed $800 billion for the first time and has reached close to a trillion-dollar club.

Tesla’s stratospheric rally has helped CEO Elon Musk become the richest man in the world by beating Amazon Inc.’s top boss Jeff Bezos, according to media reports.

According to Forbes, Musk owns a 21 percent stake in the automaker company, which contributes more than $170 billion to his total assets. This is more than the combined market capitalization of General Motors, Ford Motor Company, and Fiat Chrysler Automobiles, these three automakers. Let us tell you that all three companies are located in Detroit.

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

This incredible wealth of the company is also surprising because this auto company is just 17 years old. And in terms of sales, the company’s production is only a fraction of that of its larger rivals like Toyota Motor, Volkswagen, and General Motors.

By Dharamveer Singh

Dharamveer Singh is a content writer at Tech Gami. He has 1-year of experience in content writing. He is making content for the latest technology, Cars, Education.

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