Tesla Is Worth More Than Half A Trillion Dollars
Tesla is now worth more than half a trillion dollars on the stock market. Last year, Elon Musk predicted that self-driving Teslas would boost Tesla’s market cap to $500 billion. Although Tesla’s Full Self-Driving (FSD) suite is still in a very limited beta release, Elon’s prediction has come true earlier than anticipated. In fact, with the rise in market cap, Elon Musk has moved past Bill Gates in the ranking of the richest people in the world, becoming second only to Jeff Bezos.
$tsla 🔥 pic.twitter.com/awOmC0Rhov
— Johnna (@JohnnaCrider1) November 24, 2020
In 2019, CNBC reported that Citigroup and Goldman Sachs, who just recently announced that Tesla being added into the S&P 500 could spark an $8 billion buying spree, were on a broad investor call with Elon Musk and Tesla CFO Zach Kirkhorn. During that call, Elon Musk spoke about Tesla’s self-driving strategy and expanded on what he and other executives mentioned during Autonomy Day. Speaking with confidence, Elon told the investors on the call that autonomous driving would transform Tesla into a company with a $500 billion market cap. At that time, Tesla’s market cap was $42 billion. Elon also pointed out that existing Tesla vehicles would increase in value as self-driving capabilities were added through Tesla’s over the air updates — and individual cars could be worth $250,000 within three years.
Wall Street Is Now In Love With Tesla
Just a little while ago, CCN reported that Wall Street prefers Tesla over almost every major car brand combined, and that Tesla is now worth more than most of the world’s major car brands added together. When you put the idea of half of $1 trillion into perspective, TSLA has defied the odds. While other automakers struggled during the pandemic, Tesla flourished. Despite the army of angry short sellers, the constant media FUD, and the “threat” of competition, Tesla’s latest achievement of being included in the S&P 500 is just one step in its journey to accelerate the world to sustainability.
What do General Motors, Ford, Fiat Chrysler, Honda, Hyundai, Daimler AG (Mercedes-Benz), BMW, Volkswagen, and Ferrari have in common? The answer is that all together, their value on the stock market is less than Tesla’s. Tesla is truly the underdog in this story, and as it ends 2020 on a huge note of success, Tesla’s story is one that will be used in many examples in future economic classes.
Perhaps this is why Toyota is so bitter — accusing Tesla of not creating a real business in the real world. Of course, if you look at things from Toyota’s perspective, it’s hard not to have a touch of pity. Toyota was the world’s most valuable automaker — by a wide margin — before Tesla took its spot. Toyota sells a lot more cars each year, but is now worth much less. Toyota has sold cars for decade, while Tesla is a mere teenager and has only had a mass-market car available for a couple of years. However, with a market value of almost half a trillion dollars, I think it’s safe to say that Tesla does indeed have a real business in the real world.
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Something To Think About
Imagine having an idea — one that seems really impossible to implement, one that would involve changing the mindsets of many people. It’s a great idea, but when you pitch it, people say that it’s impossible or simply won’t happen. Now, imagine that this idea is related to clean technology and sustainability. You want to change the world with your dream, and the industries you are aiming to take on are these giants that have been in their places of power atop major industries for decades.
Now, imagine that your company fought and won against the odds and that these giants are now mimicking your every move. If you create a new product, they create a competing one. Imagine that you are such a threat to these industries — yes, plural — that there are groups of people who target and harass your customers on a daily basis in hopes of harming you. These groups do this because it appears to be all they can do.
Tesla is that idea. It’s a company that makes intelligent electric vehicles, the computer that is the brains of its vehicles, the batteries that are the hearts of its vehicles, the software that is the blood and nerves of its vehicles, solar power products, and more. Its EVs are in high demand despite the FUD, despite long-term online schemes to harm the company. Tesla’s success is a win for cleantech, a win for clean energy, a win for the future. The fact that this company’s full focus is on empowering us in a way to help us become more sustainable is simply beautiful. And the fact that it’s the world’s most valuable automaker, and its value is now over half a trillion dollars, shows that the world is ready for zero-emissions technology — we are starved for it.
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