Tesla Joins the Trillion-Dollar Club

While the car manufacturer's market capitalization has been edging closer towards the $1 trillion mark for some time, it took an unprecedented order of 100,000 Tesla cars by car rental company Hertz to finally push the corporation over the hump. This not only makes it the latest but also one of the fastest additions to the trillion-dollar club.

As our chart shows, only one company currently valuated at more than $1 trillion was quicker to reach that number. Saudi Aramco, the owner of the second-largest crude oil reserves and producer of the largest amount of oil per day, went public on December 11, 2019, and reached a valuation of $1.9 after only one day of trading. The second-fastest company, Facebook, dropped out of the elusive club after being a member between June and September 2021, possibly caused by the controversy surrounding whistleblower Frances Haugen and her exposure of the social media giant's dubious engagement mechanics throughout September and October. Apple and Microsoft, the two tech giants leading the pack in terms of market cap, also took the longest to reach the trillion-dollar mark. Both companies went public in the 80s but didn't cross the coveted line until the 2010s.

Interestingly, Tesla doesn't even come close to the other trillion-dollar companies when it comes to earnings. While every other company on the list is in the top 25 of the corporations generating the most revenue in 2021, the electric car manufacturer sits at rank 196 according to Companies Market Cap. This showcases that while Tesla's business dealings might not make it a top 50 or even top 100 company at the moment, its stock price suggests its investors trust that this will change sooner rather than later, with Tesla being named the fastest growing brand in 2021 by Interbrand.