Shares of Tesla Inc jumped as much as 5.6 per cent on Friday, pushing the electric-car maker’s market capitalization to more than USD 800 billion for the first time ever and inching closer to the trillion dollar club.
Tesla’s stratospheric rally has helped Chief Executive Officer Elon Musk surpass Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday.
At today’s session high, Musk’s 21 per cent stake in the automaker as per Forbes contributes more than USD 170 billion to his net worth, dwarfing the combined market capitalization of General Motors, Ford Motor Co and Fiat Chrysler Automobiles, the three Detroit automakers.
In the previous session, Tesla’s market value crossed USD 774 billion, making it Wall Street’s fifth most valuable company, just behind Google-parent Alphabet Inc and ahead of social media giant Facebook Inc.
The company’s fortunes is an anomaly as the 17-year-old automaker has production that is just a fraction of large rivals by sales such as Toyota Motor, Volkswagen and General Motors.
U.S. and India trade negotiators were pushing on Wednesday to try to land a tariff-reducing deal ahead of President Donald Trump's July 9 negotiating deadline, but disagreements over U.S. dairy and agriculture remained unresolved, sources familiar with the talks said.
A cyber hacker broke into a database containing the personal information of millions of customers, Qantas said, in Australia's biggest breach in years and a setback for an airline rebuilding trust after a reputational crisis.
Emirates has officially launched its daily services to Shenzhen, marking the airline’s fourth gateway in the Chinese mainland after Beijing, Shanghai and Guangzhou.
US President Donald Trump on Tuesday threatened to cut off the billions of dollars in subsidies that Elon Musk's companies receive from the federal government, in an escalation of the war of words between the president and the world's richest man, one-time allies who have since fallen out.
The national defense and foreign affairs committees of the UAE and Israel on Wednesday held a virtual meeting, emphasising the need to adopt a "responsible political approach" in dealing with regional crises.
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has had a call with his Ghanian counterpart, Okudzeto Ablakwa.
A guided travel simulation for children with autism spectrum disorders was held at Dubai International Airport, in an effort to ease travel readiness for children and their families.