Wednesday, 22 January 2020
Elon Musk appears to have built a venerable financial fortress around his electric vehicle company Tesla. On Tuesday it became the first US carmaker, that publicly sells shares, to be valued at over $100 billion. Late last night, at around 2330 CET (1730 EST) Tesla‘s share price jumped to $554. This bumped the company’s overall market capitalization to over $100 billion. [Read: Tesla says there’s no unintended acceleration in its vehicles, blames short seller] Tesla‘s valuation far outranks other publicly traded US carmakers like General Motors and Ford. At the time of writing, General Motors market cap is around $49…
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