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Tesla Now Also Worth Trillion Dollars After Mega Order Hertz

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Tesla stock rose so fast on Monday that the company is now worth more than $1 trillion. That is one thousand billion dollars. Tesla is only the fifth American company to pass that milestone.

 

The reason for the big plus was a billion-dollar order from rental company Hertz that would have ordered 100,000 electric cars from Tesla.

After that news, Tesla shares rose just under 10 percent on the stock market, which was enough to break the $1 trillion barriers. Tesla is going after tech companies Apple, Microsoft, Amazon and Google parent Alphabet.

Since the beginning of this year, a share of Tesla has already increased in value by more than 40 percent. The electric-car maker recently passed Facebook in market value, making it the fifth most valuable publicly traded company in the United States.

For CEO Elon Musk, Monday’s price increase means that his wealth will increase further. At the end of last week, his net worth was estimated at more than $250 billion.

Investment bank Morgan Stanley predicted that Musk could become the first billionaire. That would mainly be because his space company SpaceX can become worth much more, although Tesla is still worth more. According to Bloomberg, the second billionaire on the list of richest people, Amazon founder Jeff Bezos, is worth less than $200 billion.

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