Tesla’s market value is now worth more than the next 10 biggest manufacturers, including Toyota, VW Group and more.
There’s a reason why we hear about Tesla so much. Could it be its eccentric leader and the strange name he gave his child? Could it be their innovation in self-driving car technology? Or is it because of the ridiculous value the company has on the stock market?
Well, it doesn’t really matter because either way, Tesla’s stock bubble has now reached an all-time high of around 750 USD per share and a market cap (market value) of $717 billion at the time of writing.
Although this may not mean much to those not into investing, to put it into perspective, this makes Tesla valued at an amount greater than the next 10 biggest auto manufacturers put together!
This includes Toyota, VW Group (owns Audi, Skoda, Porsche, SEAT, Lamborghini, Bentley), Daimler (owns Mercedes, AMG, Smart), General Motors (GMC, Cadillac, Chevrolet), BMW (owns Rolls Royce, Mini), Honda, Ford, Hyundai (owns Kia), Fiat Chrysler (owns Alfa Romeo, Jeep, Maserati) and PSA (Peugeot, Citroen, Vauxhall).
These ten groups produce most of the cars you see on the roads today.
Essentially, this independent car manufacturer that only started around 13 years ago and sold shares at around 60 USD each until late 2019, is now valued at an amount greater than pretty much all of the major car companies in the world combined.
In 2013, Bloomberg reported that Tesla’s market cap had exceeded BMW’s, standing at $61.6 billion in June 2017. There was great excitement as Tesla became the fourth biggest automaker by value, beating BMW by $280 million. Now, however, Tesla is worth $717 billion and Elon Musk, the founder and current CEO, is now said to be the second richest person in the world.
With a new net worth of $175 billion, Elon Musk is creeping in at number two on the list of most valuable individuals in the world, with Jeff Bezos valued to have a net worth of $186 billion.
We’ve all heard the stories of people that sold their shares in Apple for a ridiculously low price and if they had held onto them, they would be millionaires today. Well, expect to start hearing those kinds of stories about Tesla.
As it continues to dominate the EV market, we’ll be very interested to see what Tesla’s future holds.
Does this change your opinion of Tesla, the new kid on the automotive block? Let us know in the comments!
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