TESLA

Elon Musk's first billion

It is almost caricat that a car manufacturer who in 2019 sold only 400,000 vehicles, despite having sold four times as much as the previous year, today has a stock exchange value of more than $ 100 billion. With this, Tesla surpassed the VW Group and assumed itself as the second most valuable brand on the market, just after the Toyota Group, which still enjoys a considerable advantage, having valued close to 200 billion.
The end of the year was spectacular for Tesla's shareholders, who saw a sharp rise in the value of the shares. The success of Gigafactory 3 in China, with the smooth start of Model 3 and the upcoming forecast of Model Y, in addition to the Gigafactory 4 announcement in Germany, has made the US manufacturer's actions record-breaking.
This is what enabled him to surpass General Motors and BMW, the 5th and 6th of the ranking, both with a value of close to 50 billion, and then, within a month or so, to beat Daimler (54 billion) and VW, whose market value is around $ 99 billion. At $ 579.93 a share, Tesla was worth $ 104 billion, which few thought possible.
Although few thought this valuation was feasible, this was apparently not the case for Elon Musk, the company'S CEO and the largest shareholder, with 20% of the company. In order to demonstrate to his colleagues in the administration his trust in his management and in the development plan for new vehicles, Musk proposed in 2018 to work for free without any salary. But in return, it would receive 1.69 million shares every time Tesla's valuation increased by $ 50 billion.
By jumping from 50 billion to 100 billion stock market capitalization, Tesla has delivered a total of securities that today have a value of one billion dollars. However, no one expects the CEO to get rid of the shares now received, taking advantage to increase (even more) his share in the company he runs.

Autonews