Elon Musk’s net worth rises sharply as Tesla m-cap crosses $1 trillion

US-based electric vehicle (EV) maker Tesla has joined the elite club of companies that have a market capitalisation of over $1 trillion.

Tesla reached the milestone after its stock crossed $1,000 for the first time following a 14.5 per cent rally on the NASDAQ index. The US electric carmaker’s stock rallied after rental car company Hertz Global Holdings said it would buy 1,00,000 EVs from Tesla to ramp up operations. The order will be fulfilled completely by the end of 2022.

Only a few companies in the world have a market capitalisation that exceeds $1 trillion, including the likes of Apple and Microsoft. It may be noted that Tesla is the first carmaker to join the exclusive club.

India Today