Apple became the first US-listed company to reach a $2 trillion market cap _ Elon Musk becomes the world's fourth-richest man on Tesla boom

• 2020-08-21
• Traiding Idea

Apple became the first US-listed company to reach a $2 trillion market cap

Apple became the first publicly-traded company in US history to reach a $2 trillion market cap, doubling in valuation in just over two years.

Yesterday, Apple's share price jumped 1.2% to $ 467.77, which pushed it over a $2 trillion market cap.

Apple stock has risen 59.24% since the beginning of this year, pushing through the Covid-19 pandemic that has battered many companies.

Apple first reached a $1 trillion market cap on August 2, 2018. Since then, experts have predicted that Apple will be the first company to surpass $2 trillion.

On July 31, Apple surpassed state oil giant Saudi Aramco to become the world's most valuable publicly-traded company.

Elon Musk becomes the world's fourth-richest man on Tesla boom

Tesla shares have more than tripled so far this year as demand for electric vehicles grew, and the company's sales increased.

Musk's net worth now stands at $ 84.8 billion.

According to Bloomberg, Elon Musk has added $ 7.8 billion to his net worth. The tech mogul is now trailing only Facebook's Mark Zuckerberg ($ 100 billion), Microsoft's Bill Gates ($ 121 billion), and Amazon's Jeff Bezos ($ 188 billion).

His fortune could go even higher if his aerospace company, SpaceX, secures an additional $2 billion in funding from investors.

Shares of Tesla jumped 11.2 % in yesterday's trading, reaching $ 1,835 for the first time. That pushed Tesla to $ 388 billion, more than the combined valuations of General Motors, Ford Motor, Fiat Chrysler and Toyota Motor.