Tesla becomes fifth company to hit $1 trillion valuation

Tesla becomes fifth company to hit $1 trillion valuation
© UPI Photo

Tesla has become the fifth company to hit a $1 trillion valuation on Monday.

Tesla’s market value hit $1 trillion after its stock price obtained an all-time high of $1,024.36, USA Today reported.

The electric vehicle automaker is one of only five companies to have ever hit the trillion-dollar mark.

ADVERTISEMENT

Other companies include Apple, Microsoft, Amazon and Alphabet, the parent company of Google.

News of the milestone came after Hertz and Tesla reached the biggest electric car order placed in history on Monday, according to the news source.

Hertz agreed to buy 100,000 Tesla cars by the end of 2022 which helped up Tesla’s stock prices the same day.

Tesla CEO Elon MuskElon Reeve MuskIf bitcoin is 'digital gold,' it should be taxed like gold The Hill's Morning Report - Presented by ExxonMobil - House to vote on Biden social spending bill after McCarthy delay GOP leader's marathon speech forces House Democrats to push vote MORE overtook Amazon founder Jeff BezosJeffrey (Jeff) Preston BezosMichael Strahan headed for space aboard next Blue Origin flight Why science and religion come together when discussing extraterrestrial life Sanders vows to oppose defense bill: 'We need to get our priorities right' MORE to become the richest person in the world, worth $200.7 billion in September. 

“I’m sending a giant statue of the digit ‘2’ to Jeffrey B., along with a silver medal,” Musk said following the news.

Musk announced earlier in October the company’s headquarters would be leaving California and heading to Texas.