Tesla becomes fifth company to hit $1 trillion valuation

Tesla becomes fifth company to hit $1 trillion valuation
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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.

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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 MuskOn The Money — Vaccine-or-test mandate for businesses nixed Hispanics sour on Biden and Democrats' agenda as midterms loom Can our nation afford higher interest rates with the current national debt? MORE overtook Amazon founder Jeff BezosJeffrey (Jeff) Preston BezosCan our nation afford higher interest rates with the current national debt? Free speech, Whole Foods, and the endangered apolitical workplace Space: One important thing that might retain bipartisan focus 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.