Tesla’s market value eclipsed $1 trillion Friday for the first time since early 2022, as the electric vehicle maker led by the world’s richest man Elon Musk enjoys a massive rally after the Musk-backed Donald Trump secured a second presidential term.
Shares of the Musk-led Tesla are up 24% since Tuesday.
Shares of Tesla jumped as much as 7.6% to $319.44 by late morning, extending its three-day rally to 24%, captaining the broader stock market gains following Trump’s election.
That pushed Tesla’s market value to over $1 trillion for the first time since April 2022, according to YCharts data, with the automaker’s valuation nearly doubling over the last six months.
Musk’s net worth topped $300 billion Friday for the first time in more than two years. The 53-year-old got $10 billion richer Friday during the Tesla stock rally, and he’s $70 billion wealthier than the next closest competitor, Oracle chairman Larry Ellison.
This is a breaking news story and will be updated…