Tesla Crosses $1 Trillion

Wow, Tesla blew past $1 trillion in market value last night. Once the share started gathering momentum, you just knew it was going to happen with style. The car rental company, Hertz, announced that they have ordered 100 000 Tesla's. The resulting share price gains added the equivalent of two Fords to Tesla's market capitalisation. Remember Hertz, they nearly went under but were saved by the Wall Street Bets brigade. All this feels like a movie.

I get the feeling the Hertz announcement was just the catalyst for the rally. The stock was up 4% at the open but gathered momentum when the market realised it could break the $1 trillion mark. It took Tesla 18 years to reach $1 trillion, the second-fastest in history after Facebook. This is astounding for a company that actually manufactures real things (as opposed to operating a cash-printing software business).

Elon is now worth about the same as South Africa's annual economic output. Maybe that's an unfair comparison (of a stock versus a flow) but makes for an interesting perspective. Elon is our best ever export. I think we can claim that?