It’s been a while since Hertz has been relevant, let alone in the news. The car rental company that recently exited bankruptcy protection announced they are spending $4.2 billion on 100,000 Tesla vehicles they will be adding to their rental fleet.
Because of this huge purchase, the value of Tesla skyrocketed this week, jumping 12.7%, which officially put their market cap of $1 trillion.
So, now the EV company joins an exclusive list that previously only featured tech companies. It is now one of six companies in the $1 trillion club along with Apple, Amazon, Facebook, Google and Microsoft in the trillion dollar club.
Tesla just missed becoming the fastest company to do it. It is now in its 18th year of existence, while Facebook hit the milestone at the age of 17. Tesla is valued $83 billion more than Facebook now if that’s any consolation.
Teslas big gain helped their CEO Elon Musk get even richer this week. His fortune ballooned to a moderately insane number of $255.2 billion, a $25.6 billion increase in one day, and he stands alone as the richest person to ever walk on planet earth.