The S&P 500 and Dow both hit all-time highs on Monday, as Wall Street brushed off lingering concerns about a slowdown in economic growth, higher inflation and heavy debt loads in China's large real estate sector.īut the growing $1 trillion club isn't necessarily a good thing for markets over the long run.īreaking it down: Five companies in the S&P 500 - Apple, Microsoft, Google parent Alphabet, Amazon and Tesla - are now worth a collective $9.3 trillion. Nonetheless, Musk, whose net worth of nearly $289 billion makes him more valuable than ExxonMobil, cheered the move. 'Strange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem,' Musk said on Twitter. But even CEO Elon Musk was surprised by the magnitude of the jump, which pushed Tesla's market value up to $1.01 trillion. It's the largest purchase of Teslas ever by a single buyer, and the biggest move into electric vehicles by a rental car company. Giving Your Best Nonprofit of the Month.
