Tesla became the fifth US company in the elite trillion dollar club after the carmaker's market capitalisation crossed $1 trillion this week.
Tesla joined the trillion dollar club following an order for 100,000 electric vehicles from the car rental company Hertz which pushed up the carmaker’s market capitalisation.
The order of 100,000 Tesla Model 3s made by Hertz is valued at $4.2 billion.
Tesla is now worth more than the next nine most valuable listed carmakers combined.
Tesla shares surged more than 12 per cent, adding almost $118 billion to the company’s market capitalisation following the order from Hertz.
According to the Bloomberg Billionaires Index, Tesla’s stock surge made CEO Elon Musk the richest man on Earth.
Musk's net worth increased by $36.2 billion to $288.6 billion.
