Tesla Hits $1 Trillion Market Cap—Musk Becomes $300 Billion Man After Trump Win

A solid third-quarter earnings report and the Trump victory boost Tesla shares.
Tesla Hits $1 Trillion Market Cap—Musk Becomes $300 Billion Man After Trump Win
A Tesla logo is shown on Feb. 27, 2024, in Charlotte, N.C. Chris Carlson/AP
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Shares of Tesla Motors rallied 9 percent to end the trading week, pushing the company’s value to $1 trillion for the first time since April 2022.

The electric vehicle (EV) maker’s stock reached $325 on the Nasdaq Composite Index during the Nov. 8 trading session. Before Election Day, Tesla maintained a market cap of about $807 billion, and shares were up just 1 percent for the year.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."