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Tesla overtakes Volkswagen, is second in the world in value

2020-01-23T10:10:25.581Z


Tesla goes up when negotiations start on Wall Street, where it earns 4.6%. And it flies to over $ 100 billion in market capitalization, surpassing Volkswagen and its $ 99.8 billion in value. (HANDLE). (HANDLE)


Tesla spills over $ 100 billion in value for the first time and surpasses Volkswagen, making it the second-largest car maker in the world after Toyota. For Elon Musk it is a revenge on a Wall Street that recently seemed to have turned its back on him, and an important milestone to fulfill his 'dream' of making electric cars within reach of the general public.

Landing on Wall Street in July 2010 at $ 17 per share, Tesla stocks have jumped 125% in the past three months alone. A leap with which it comes to be worth 104 billion dollars against 99.8 of Volkswagen, which however produces 30 times the amount of Tesla cars. The overtaking of the German giant increases the pressure on the traditional car sector and on a Detroit capital of the four wheels now overshadowed by Tesla. Climbing Volkswagen, the giant of electric cars thus rises to second place in the world rankings behind Toyota. Reaching the $ 100 billion threshold is far more than symbolic for Musk. In addition to personal pride for the success of his creature, Tesla's leap allows his CEO to reach out for a big reward. If Tesla stays on $ 100 billion for the next six months, Musk will be able to cash in on the first $ 346 million of his 10-year bonus plan. A plan that binds its compensation, currently equal to zero while controlling 20% ​​of Tesla, entirely to the performance of the company and the achievement of some objectives, including a market capitalization of 100 billion dollars. In short, a maxi check with which Musk intends to continue, despite the skeptics, to carry out his initiatives not only in Tesla but also in Space X, with which he could hit the target of being the first private company to bring astronauts to orbit.

"He's one of our best geniuses," says Donald Trump, describing the billionaire-visionary compared by many to Steve Jobs. According to American President Musk, however, he is more of a Thomas Edison, and as such he must be defended: "she is one of the most intelligent and we pamper these types of people".

Source: ansa

All tech articles on 2020-01-23

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