It’s incredible to note that one of the leading carmakers in the United States has crossed what previously was thought unimaginable, a $1 trillion market valuation in an event held previously this week. The valuation followed the increased stock price that nearly doubled almost one year ago as vehicles prices and demand surged across the country and globally elsewhere.
Tesla electric car demand got pushed relatively high as one of the companies in the United States by the name Hertz Global Holding made numerous requests to the automaker by ordering approximately 100,000 units of electric cars that Hertz Global wants to be delivered by the end of next year. The bulk purchase order by Hertz to purchase the electric auto has led to the adoption of technology cars in the mainstream media leading to Tesla getting a high valuation that is close to $1 trillion.
Few companies in the United States have reached the coveted $1 trillion valuations. These companies include Amazon incorporation, Microsoft crop, and Apple incorporation, and currently, Tesla has joined the perk. In addition, social media giant Facebook was previously part of a team that had over $1 trillion valuations. Still, a recent fall in share prices led to a drop in its valuation.
In the previous week, Tesla made a public announcement regarding its quarterly profits, which has skyrocketed. Surprisingly, Tesla’s total net worth is currently valued as This puts Tesla quite ahead of the perk and makes it one of the largest automakers globally.
Elon Musk, the Chief Executive Officer, CEO, of Tesla made a public announcement through his official Twitter handle that the request by Hertz Holding did not move the demand for Tesla relatively high but pushed the production of the electric vehicles quite high. The large order by Hertz Holding made the Tesla stock skyrocket and rise by approximately 12 percent, rising from about $1024.86, a surge that gave Tesla a valuation of a market value of about $1.03 trillion.
It’s surprising to note that the market valuation for Tesla has unusually soared in the past year from a staggering $100 billion valuation in the past two years to the current $1 trillion valuations based on data released by the Dow Jones. The current valuation by Tesla took the e-commerce giant by Jeff Bezos almost eight years to reach a $1 trillion valuation, something that took Tesla only 24 months to get. Moreover, the valuation on Tesla catapulted the automaker founder Elon Musk to the helm of the wealthiest individual in the globe currently.