Elon Musk made auto history yesterday.
After Hertz ordered 100,000 of Tesla’s electric vehicles, the automaker’s share price jumped 12.7%, giving it a market capitalization of $1 trillion.
A thread on just how crazy that number is.
After Hertz ordered 100,000 of Tesla’s electric vehicles, the automaker’s share price jumped 12.7%, giving it a market capitalization of $1 trillion.
A thread on just how crazy that number is.
Only Apple, Amazon, Facebook, Google, and Microsoft have entered the four comma club in the US.
Facebook hit $1 trillion the fastest of all (within 17 years of being founded), but Tesla is currently worth about $83 billion more than the social media company. It took Tesla 18 years after its founding to reach the milestone.
Tesla + Hertz = Largest Deal Ever
Last spring, when no one was traveling and rental cars sat idle in parking lots, Hertz filed for bankruptcy. But like a phoenix rising from the charred remains of a 2019 Chevy Malibu, the rental car company has bounced back.
Last spring, when no one was traveling and rental cars sat idle in parking lots, Hertz filed for bankruptcy. But like a phoenix rising from the charred remains of a 2019 Chevy Malibu, the rental car company has bounced back.
Hertz’s purchase of the Teslas, reportedly worth $4.2 billion, is the largest EV deal in history. With it, Teslas could make up over 20% of Hertz’s entire fleet while offering the EV-curious more opportunities to test them out.
Tesla is lapping the field.
It's worth as much as 19 other automakers, including Toyota, GM, Honda, and Nissan, combined.
Tesla’s value is 15x higher than Ford’s, even though Ford brought in $115+ billion more in revenue last year.
It's worth as much as 19 other automakers, including Toyota, GM, Honda, and Nissan, combined.
Tesla’s value is 15x higher than Ford’s, even though Ford brought in $115+ billion more in revenue last year.
Tesla’s wide lead over its rivals shows that investors believe the future of the auto industry lies in electric vehicles, and that Elon Musk’s company is poised to capture a big chunk of that market.
As for Mr. Musk, his fortune increased by $25.6 billion yesterday to hit $255.2 billion—richer than any billionaire Forbes has ever tracked.
He's up to $289B now.
He's up to $289B now.
More here: morningbrew.com/daily/stories/…
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