Tesla Just Blew Past Walmart as the Most Valuable Company in the United States by Revenue

Tesla and its eccentric CEO Elon Musk have had a helluva year. Since the start of 2020, Musk’s net work has increased by $87.8 billion, while Tesla’s stock has skyrocketed by 500 percent.

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“Tesla’s $464 billion market value now exceeds that of retail behemoth Walmart Inc., the largest company in the U.S. by revenue,” Bloomberg reported on Tuesday.

“Tesla, a favorite among amateur investors on online trading firm Robinhood Financial, has been one of the largest beneficiaries of the boom in retail investing during pandemic lockdowns,” Bloomberg wrote. “At one point last month, almost 40,000 Robinhood accounts added Tesla shares during a single four-hour span. And the trend isn’t limited to the U.S.: South Korean retail investors have piled into Tesla this year and hold about a 1% stake in the American auto maker.”

Alas as of today, according to Bloomberg Billiionaire Index, Musk now has a nest egg just north of $115,000,000,000, and his exploding fortune is only expected to grow, due to the $50 billion compensation package he has arranged if all of Tesla’s goals are met.

Musk has surpassed Facebook CEO Mark Zuckerberg as the third richest person in the world. Amazon CEO and Microsoft Founder Bill Gates remain the two richest people on Earth, with fortunes of $202 billion and $125 billion, respectively.

Musk last made headlines on August 18 after Bloomberg reported an $8 billion jump in just 24 hours.

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