Tesla Market Cap Surpasses $600 Billion for the First Time

Elon Musk's Wealth Surpasses $145 Billion (Approx. 157 Trillion Won)

▲Elon Musk, CEO of Tesla [Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The market capitalization of the U.S. electric vehicle company Tesla has surpassed $600 billion (approximately 661 trillion won) for the first time.

According to Fox Business on the 7th (local time), Tesla's stock price rose 7.13% that day, closing at a record high of $641.76. As a result, Tesla's market capitalization also exceeded $600 billion for the first time in history, reaching $608 billion (approximately 659 trillion won).

Tesla's stock price has shown a sharp upward trend this year despite the COVID-19 pandemic.

In particular, it surged recently following the announcement of its inclusion in the Standard & Poor's (S&P) 500 index. Tesla's market capitalization increased by $221.49 billion since the S&P 500 inclusion announcement on the 16th of last month.

Accordingly, the wealth of founder Elon Musk has also increased significantly.

Bloomberg reported that Musk's wealth surpassed $145 billion on that day.

Musk ranks second on the Bloomberg Billionaires Index, following Jeff Bezos, CEO of Amazon, and is ranked third on the Forbes list, which uses a slightly different calculation method, behind Bezos and Bernard Arnault, chairman of Louis Vuitton Mo?t Hennessy (LVMH).

This content was produced with the assistance of AI translation services.