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Expand chart
Data: YCharts; Chart: Kavya Beheraj/Axios

Tesla joined one of the most exclusive clubs in the world Monday when an announcement about Hertz buying its cars sent its market capitalization over the $1 trillion mark.

Why it matters: No matter how high it rises, Tesla stock always seems to be able to outperform expectations.

  • Tesla's six-month average market cap is now $686 billion — comfortably above the $650 billion maximum target embedded in a 10-year employment agreement that CEO Elon Musk signed in 2018.
  • The agreement also includes operational milestones. Musk has already met seven of them, with another three "probable," according to an SEC filing. Assuming that Tesla's market capitalization remains above $650 billion, then Musk will be fully paid out, earning 20.3 million shares of stock, way ahead of schedule.
  • Those shares are worth about $21 billion as of the close of trade on Monday.

By the numbers: Tesla stock was trading at $408 per share when S&P announced in November 2020 that it would finally be joining the S&P 500. The announcement precipitated a massive rally in the shares, which were trading at $650 on Dec. 21, 2020, the date Tesla actually joined the index.

  • Index fund investors don't seem to have overpaid: At $1,024.86 per share as of the close of trade on Monday, the car company has outperformed the index by more than 34 percentage points.

The bottom line: The only other companies in the world worth more than $1 trillion are Apple, Alphabet, Amazon, Microsoft and Saudi Aramco. That's pretty exalted company for Tesla to be in.

Go deeper: How Hertz's big Tesla deal could boost EV adoption for everyone

Go deeper

Jul 27, 2020 - Technology

Big Tech's power, in 4 numbers

Data: FactSet; Chart: Naema Ahmed/Axios

The four Big Tech CEOs who will testify before Congress Wednesday command global empires with power and wealth that make them more like countries than companies.

By the numbers: Here are four very large stats for Facebook, Apple, Google/Alphabet and Amazon that tell the story of their value, scale and influence.

59 mins ago - Health

Prior coronavirus infections may not protect well against Omicron

Illustration: Aïda Amer/Axios

New data from South Africa suggests the Omicron variant spreads more than twice as quickly as the Delta variant, and that immunity from prior infection doesn't appear to protect a person very well against Omicron variant.

Why it matters: The findings are extremely preliminary, and there are still many open questions about how well vaccines work against the variant. But these initial breadcrumbs of data are helping the world begin to understand what it's up against.

Bryan Walsh, author of Future
2 hours ago - Technology

AI could end foreign-language subtitles

Illustration: Shoshana Gordon/Axios

AI companies are developing methods to translate and synthesize voices in ads, movies and TV.

Why it matters: The advances in voice synthesis could help fix bad movie dubbing — and they come as international content is becoming increasingly important to studios and streaming platforms as part of the globalization of entertainment.