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Tuesday, 2 February 2021

Tesla is now the fifth most valuable company in the world


Tesla surpassed Facebook to be the 5th most valuable company in the world. Tesla is now worth $820 billion compared to Facebook’s $750 billion. That rally helped Elon Musk to accumulate a fortune of over $188.5 billion making him the richest man in the world.

On Friday, Tesla stock jumped by more than 7%, bringing its stock price to an all time high of $880 giving Tesla a market cap to $820 billion. Facebook, meanwhile, closed the day with a $763 billion market cap. Elon musk owns 21% of Tesla which is now worth $195 billion making him the richest man in the world. Tesla’s $830 billion market cap makes it the fifth most valuable company in the S&P500 index after Apple,Microsoft, Amazon and Alphabet.

According to Quartz, Tesla’s stock price has benefited from the election of Joe Biden, and the results of this week’s Senate runoff elections in Georgia, which hand Democrats control of the White House and both chambers of Congress. That boosts the likelihood that Biden can enact his plans to create 1 million jobs in the US auto industry, invest in electric vehicle charging stations, and other green energy initiatives that could benefit Tesla’s bottom line.

Yesterday, Tesla’s stock price jumped over 6% to an all time high of $800 giving Tesla a market cap of $757 billion which makes Tesla the fifth most valuable company in the world. This rally helped Elon Musk to accumulate a fortune of $188.5 billion which makes him the richest man in the world surpassing Jeff Bezos’s $187 billion.

Elon Musk’s vast fortune comes from Tesla and SpaceX. Tesla is now worth $757 billion and Elon owns 21% of it which around $170 billion and SpaceX is valued at $35 billion and Elon owns 54% of it which is about $18 billion. All this combine Elon Musk is now worth $188.5 billion.

According to Forbes, The world’s 500 richest people added a record $1.8 trillion to their combined net worth last year, equivalent to a 31% increase. The gains were disproportionately at the top, where five individuals hold fortunes in excess of $100 billion and another 20 are worth at least $50 billion.

Tesla stock price is up by 15% year to date. Few days ago Tesla joined S&P500 making it the largest S&P500 inclusion ever happened. Tesla stock is up by 70% after the announcement of S&P500 inclusion. And also Tesla stock is up by almost 800% previous year alone, giving Tesla a market cap of $700 billion. And in 2021 Tesla stock is rising like a wild.



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