Tesla Motors Inc (TSLA) Surpasses $110 Per Share
Tesla Motors Inc (NASDAQ:TSLA) closed on the stock market at $110.33 per share. The company is trading at around $111 during after-hours trading as well. This is the first time in company history that Tesla passed $100 per share. All of the good news about Tesla Motors helped drive the company’s stock price up such as their first profitable quarter and how they paid back their $465 million government loan nine years ahead of schedule with interest. Tesla’s stock price has almost doubled since the company reported their earnings on May 8th.
Due to the stock price rally, Tesla Motors CEO Elon Musk has seen a major increase in his net worth as well. Tesla Motors shares increased over 180% this year and the renewable energy firm that he chairs, SolarCity, saw their stock price go from their December IPO price of $8 to a closing price of about $46.78 today. As of December 31st, Musk owned around 33.1 million Tesla shares and 20.8 million SolarCity shares.
Musk’s ownership in Tesla is now worth around $3.24 billion (up from $2.1 billion since the start of 2013) and his ownership of SolarCity is now worth $1.02 billion (up from $767 million since the start of 2013). Musk is also the founder of SpaceX and has invested in a number of startups. Musk’s ownership is estimated to be worth at least $5 billion now based off of Bloomberg’s estimates from earlier this month.
Later this week, Tesla is expected to announce that they are expanding their network of Supercharges for Tesla Model S owners to charge their batteries. There are currently six supercharging stations in California and a few on the East Coast.