New Delhi: The market capitalization of electric car maker Tesla has crossed $100 million, or $1 trillion. Tesla has become the sixth US company to achieve this milestone. Shares of the company jumped more than 12 per cent on Monday. This increased the net worth of the company's CEO Elon Musk by $36.2 billion. This is the biggest ever increase in the net worth of any industrialist in a day. According to Bloomberg Billionaires Index, his net worth has reached $289 billion.
Tesla shares rose 12 per cent to close at $1025 on Monday with two positive news reports. Hertz has ordered the induction of 1,00,000 Tesla cars into its fleet. On the other hand, Morgan Stanley has raised the target price of Tesla's stock to $1,200. Tesla's market capitalisation has crossed $100 million, or $1 trillion, as stocks surge. However, it is less than half of the world's most valuable company, Apple. The market cap of Apple is $2.5 million. With the latest increase, Musk has surpassed Amazon's Jeff Bezos Amazon in the race for wealth.
This year, Musk and Bezos have beaten each other in the race for the world's largest nobleman. But musk has gone far in recent times. According to Bloomberg Billionaires Index, their net worth has reached $289 billion. His net worth has increased by $119 billion this year. Bezos, on the other hand, has a net worth of $193 billion. Musk's net worth is thus $96 billion more than Bezos. Tesla's market capitalisation has crossed Rs 1 lakh crore, but the way Musk's net worth is rising, he can become the world's first trilinear. That is, his net worth could reach $100 million in the near future.
Adam Jones, an analyst at Morgan Stanley, says Musk's company SpaceX has tremendous growth potential. That is why Musk's chances of becoming the worlds first trilinear have increased. According to estimates, Musk owns 20 per cent of Tesla's shares.