OREANDA-NEWS. Market capitalization of American electric vehicle maker Tesla has exceeded 0.5 trillion US dollars for the first time in the company’s history, according to data from trading on the NASDAQ exchange. The shares rose by 3.54 %, to 540.33 dollars. The total market value of the business has reached 511.7 billion dollars.

In mid-November, it became known that Tesla shares will be included in the S&P 500 from December 21. In July, the company met all the necessary requirements for this, and in October showed quarterly profit for the fifth time in a row. Then Tesla reported a record profit for the third quarter of 2020 of 331 million dollars, which is 156 % more than in the previous quarter.

Thanks to the rise in shares, Tesla CEO Elon Musk has risen to the second place in the ranking of the richest people in the world according to Bloomberg. His fortune reached 127.9 billion dollars. Back in January, he was just 34th in the ranking.