Tesla’s Market Value Surpasses $ 100 Billion, Catching Up Volkswagen
Tesla’s Market Value Surpasses $ 100 Billion Catching Up Volkswagen Tesla Inc.‘s market cap has exceeded the $ 100 billion thresholds for the first time. This paved the way for the CEO of the US auto company to pay a large amount of money.
After the electric car manufacturer’s stocks closed at 7.2 percent on Tuesday, it rose 1.4 percent in post-session transactions.
Tesla’s Market Value Catch Ups Volkswagen
Tesla, which peaked at $ 555.10 after the closing, reached $ 100.1 billion. The market value of the German automobile giant Volkswagen AG is around $ 100.6 billion.
Elon Musk Can Take $ 346 Million
Elon Musk, the billionaire at the head of Tesla, will be able to receive the first part of the prize of $ 346 million if the company’s market value remains sustainably above $ 100 billion.
The price of Tesla shares has more than doubled since the surprise third-quarter profit release and investors told him that the Model Y crossover model was in front of the calendar with the opening of its factory in China.
The company, founded by the 48-year-old billionaire, is a pioneer in the electric car market, including well-established car manufacturers.
Even the Wall Street analyst who awaited the highest rise in Tesla fell behind Tuesday’s rally. New Street Research analyst Pierre Ferragu predicts that Tesla will become the industry leader by selling 2 – 3 million vehicles annually after 2025. Ferragu, who has the highest estimate among the analysts participating in the Bloomberg survey, has raised its price target from $ 270 to $ 800.