Business
Are Elon Musk and Tesla the next bubble waiting to burst? – ABC News
Tesla is now valued at more than Toyota, Volkswagen, Daimler, General Motors, BMW, Honda, Hyundai and Ford combined. But don’t expect that to last, write John Rice…
Elon Musk is now the world’s richest person, edging out previous title holder Amazon’s Jeff Bezos. His rocketing fortune is due to the booming share price of Tesla, the maker of electric vehicles and clean energy technologies.
In the past week Tesla’s share price surpassed $US880 10 times its March 2020 low of $US85 giving the company a market capitalisation (or total value) in excess of $US880 billion more than Toyota, Volkswagen, Daimler, General Motors, BMW, Honda, Hyundai and Ford combined.
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