Tesla hits $1 trillion market value, Musk's net worth soars
Tesla shares have gained 44% this year.
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Tesla is now worth over $1 trillion in market value.
The electric vehicle maker crossed the milestone early Monday afternoon as investors drove the stock to $1,024.86 per share. The company is the first to reach this level in just two trading days.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 242.84 | -6.14 | -2.47% |
Shares have advanced 44% so far this year, ballooning the net worth of CEO Elon Musk, the world's richest person, to over $252 billion, as tracked by Forbes.
FILE PHOTO: Tesla CEO Elon Musk unveils the Roadster 2 during a presentation in Hawthorne, California, U.S., November 16, 2017. Tesla/Handout via REUTERS/File Photo (Reuters)
Tesla is now the 6th U.S. company to close above the $1 trillion milestone, joining Apple, Microsoft, Alphabet, Amazon, and Facebook as tracked by Dow Jones Market Data Group.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 222.01 | -0.90 | -0.40% |
| MSFT | MICROSOFT CORP. | 408.46 | -1.91 | -0.47% |
| GOOGL | ALPHABET INC. | 169.24 | -2.05 | -1.20% |
| AMZN | AMAZON.COM INC. | 195.78 | -2.15 | -1.09% |
| FB | NO DATA AVAILABLE | - | - | - |
Earlier in the session, rental car company Hertz announced it placed an order for 100,000 Tesla Model 3 sedans to add to its global fleet and that it has tapped NFL quarterback Tom Brady to help advertise the EV push.
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Last week, Tesla reported record quarterly results with revenue jumping 57% year-over-year, hitting a new high of $13.76 billion for the quarter. Tesla also reported $1.62 billion in GAAP net income, up from the $331 million it posted in Q3 of last year.
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The quarter resulted in the best-ever net income, gross profit, vehicle production and deliveries for the company.
FOX Business' Breck Dumas contributed to this story.