The-CNN-Wire ™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. CNN Business' Chris Isidore contributed to this report. Exxon's stock is up nearly 60% this year as oil prices have climbed.
Musk briefly eclipsed ExxonMobil's value once before, in early 2021.
Tesla is worth more than three times as much as Toyota, the second most valuable automaker, which has a market cap of about $280 billion, and boasts sales and profits that dwarf those of Tesla. Chris Brown + Follow Artist Greeted with comparisons to a young Michael Jackson and Usher, Chris Brown arrived in 2005 as a squeaky-clean pop-R&B artist with 'Run It,' the first debut single by a male artist to top the Billboard Hot 100 in over a decade. America's largest oil company has been sharply criticized for its climate strategy and two of its board seats went to a climate activist hedge fund.įor Tesla, by contrast, Wall Street's excitement about the future of electric vehicles has pushed the company's market value to more than the 11 largest global automakers combined. Musk is a leading advocate of switching drivers around the world from gas and diesel to electric vehicles, potentially endangering Exxon's long-term future. That hefty one-day gain put Tesla just over the $1 trillion mark. The Tesla CEO's jump in worth can be attributed to two things after shares of Tesla rose more than 12% Monday: Hertz announced a record order of 100,000 Teslas for its fleet, and influential Morgan Stanley auto analyst Adam Jonas recently raised his price target on Tesla to $1,200 a share. Speaking of rivals: Musk is also worth more than fellow mega-billionaires Bill Gates and Mark Zuckerberg combined.
