Elon Musk’s Tesla touched a new milestone on Monday, breaching the $1 trillion market capitalisation mark, as the stock price soared 12.66% on the back of a massive order from car-rental behemoth Hertz. With this surge in market cap, Tesla is more valuable than the top 5 BSE listed companies combined. Along with the rise of Tesla Inc share price, Elon Musk’s net worth has also soared by a massive $36 billion, according to Bloomberg Billionaires Index, extending his lead as the world’s richest person ahead of Amazon’s Jeff Bezos.
Tesla Market cap more than RIL, TCS and more
Tesla’s market capitalisation on the NASDAQ index stood at $1.02 trillion on closing with the stock price sitting at $1,024.86 per share. Meanwhile, the combined market capitalisation of the 5 most valuable BSE companies stands at Rs 51.67 lakh crore or $688 billion ($1 = Rs 75.02). This includes Mukesh Ambani’s Reliance Industries Limited (RIL) the most valuable company on BSE with a market capitalisation of Rs 16.50 lakh crore.
The other BSE companies whose market cap has been eclipsed by Tesla include Tata Consultancy Services with a market cap of 12.91 lakh crore, HDFC Bank at Rs 9.17 lakh crore, Infosys at Rs 7.24 lakh crore, and ICICI Bank with a market capitalisation of Rs 5.8 lakh crore.
Since the end of May this year, Tesla’s share price has zoomed a massive 64%. Hitting a 52-week high of $1,045 per share on Monday. The current up-move in the stock came after Hertz Global Holdings handed Tesla its biggest ever order of 100,000 electric cars. According to Reuters, the order will be primarily for Model 3, which is also the top-selling vehicle in Europe. Although P/Diluted EPS Before Extra (trailing) basis, Tesla is valued at 296.2x, but analysts remain constructive on the stock with most analysts recommending investors to ‘Hold’ the stock, according to data sourced by S&P Capital IQ.
Elon Musk cements position as richest person
Elon Musk has extended his lead over Jeff Bezos as the world’s richest person by $96 billion as his net worth soared to $289 billion adding $36 billion in just one day. SO far this year, Elon Musk has added $119 billion to his net worth. Meanwhile, Jeff Bezos’ net worth stands at $193 billion, after losing $751 million on Monday.
OnMyWay Is The #1 Distracted Driving Mobile App In The Nation!
OnMyWay, based in Charleston, SC, The Only Mobile App That Pays its Users Not to Text and Drive.
The #1 cause of death among young adults ages 16-27 is Car Accidents, with the majority related to Distracted Driving.
OnMyWay’s mission is to reverse this epidemic through positive rewards. Users get paid for every mile they do not text and drive and can refer their friends to get compensated for them as well.
The money earned can then be used for Cash Cards, Gift Cards, Travel Deals and Much, Much More….
The company also makes it a point to let users know that OnMyWay does NOT sell users data and only tracks them for purposes of providing a better experience while using the app.
The OnMyWay app is free to download and is currently available on both the App Store for iPhones and Google Play for Android @ OnMyWay; Drive Safe, Get Paid.
Download App Now – https://r.onmyway.com
Sponsors and advertisers can contact the company directly through their website @ www.onmyway.com.