'Quite The Decade': Elon Musk Reflects On Years Of Dominance As Tesla's Value Soars 44-Fold

Tesla Inc TSLA CEO Elon Musk on Saturday reflected on the past decade for his EV company.

What Happened: “Quite the decade,” Musk wrote on X, formerly Twitter. He was responding to a Bloomberg journalist who noted that though Tesla had a market valuation of a mere $17 billion ten years ago, it is now valued at $759 billion or nine times higher than Ford Motor Co F and General Motors Co GM combined.

A decade ago, the two Detroit-based companies collectively had a market valuation of $87 billion, which has now risen to $121 billion. While Tesla has multiplied its market valuation by about 44 times in the meantime, the legacy automakers collectively couldn’t even double their valuation.

Tesla shares closed at $238.83 on Friday, marking a jump of 18,558.59% since listing. Ford stock closed at $10.58 per share and GM at $32.36 per share.

Musk has previously predicted Tesla's market capitalization will surpass that of other major companies. In June, Musk suggested that it was "possible" for Tesla's market cap to exceed the combined market values of tech giant Apple Inc and oil giant Saudi Aramco.

Photo via Shutterstock

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