Tesla Model S Plaid Elon Musk
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Elon Musk Sees An Increase In Fortune After Hertz Orders 100K Teslas

SpaceX and Tesla CEO Elon Musk’s personal fortune has soared to $36 Billion in a day after Hertz ordered 100,000 Teslas.

As time passes, Elon Musk’s fortune keeps getting better. Recently, his wealth jumped to $230 billion and he became the world’s richest man.  As per a report, the Dogefather is richer than Bill Gates and Warren Buffett combined.

Fortune Of Elon Musk Increases After Hertz Orders Teslas

Recently, Hertz, an American car rental company, placed an order for 100,000 Teslas in the first step of an ambitious plan to electrify its rental-car fleet.

This deal is the single-largest purchase ever for electric vehicles and it represents about $4.2 billion of revenue for Tesla Inc.

Elon Musk $36B Hertz 100000 Teslas

As the news of the order became public, Tesla’s stock price increased to 13% and its market capitalization surpassed the $1 trillion mark. As of October 2021, Tesla has a market cap of $1.026 Trillion, according to CompaniesMarketCap.com.

In October 2020, the market cap of Tesla was around $400 Billion. That means that the company’s market cap has increased by more than 150% in a year.

The cars will be delivered over the next 14 months. Tesla’s Model 3 sedans will be available to rent at Hertz locations in major U.S. markets and parts of Europe starting in early November, as per the company.

Usually, car rental companies demand big discounts from automakers. However, here the situation is different. Hertz is paying close to list prices.

A Twitter user asked Elon about the amount that Hertz has paid for 100K Tesla vehicles. Initially, Elon Musk replied that the Hertz deal that moved the stock price was strange as Tesla doesn’t have a demand problem, but rather a production ramp problem.

Later, he said that the cars sold to Hertz have no discount. They paid the same price as other consumers.

Rahul Macwan

Rahul Macwan

A writer with a literary and cinematic appetite for highbrow matter.

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