Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Tesla Hits $400, SpaceX’s $500B Valuation: Musk’s Companies Soar as Trump’s Inauguration Nears

Daniel Kim Views  

Elon Musk’s companies are rapidly gaining prominence as key players in Donald Trump’s upcoming administration and leaders in their respective industries. Tesla’s stock price has once again surpassed $400, nearing an all-time high. Musk’s privately held aerospace company, SpaceX, has been valued at approximately $500 billion.

On October 23, 2024, visitors at the 2024 Future Innovation Technology Expo (FIX 2024) in Daegu\'s EXCO were seen examining Tesla\'s Cybertruck / News1
On October 23, visitors at the 2024 Future Innovation Technology Expo (FIX 2024) in Daegu’s EXCO were seen examining Tesla’s Cybertruck / News1

Tesla’s stock climbed 2.9% on Tuesday, marking its fifth consecutive day of gains and closing above $400 at $400.99. This puts it within striking distance of its all-time closing high of $409.97, set on November 4, 2021.

On the same day, Adam Jonas, a Tesla analyst at Morgan Stanley, maintained his “Buy” rating on the stock and raised his price target from $310 to $400, recommending it as his top pick. Jonas credited the stock surge to Musk’s growing political influence, which has boosted investor confidence in Tesla’s fundamentals. However, he also cautioned that President-elect Donald Trump’s potential removal of the $7,500 electric vehicle tax credit could slow the adoption of EVs in the U.S., giving China an advantage in the sector.

Since Election Day on November 5, Tesla’s stock has surged 65.1%. Investors are optimistic about the company’s future, particularly with the launch of Tesla’s robotaxi service next year. Many hope that federal regulations will streamline the approval process for robotaxis, replacing the current state-by-state system.

According to FactSet, Tesla is currently trading at 116 times its estimated earnings per share (EPS) for next year, with an average analyst price target of $267.

In parallel, SpaceX’s valuation has reportedly soared to $350 billion. Bloomberg reported that the private company and its investors recently agreed on a $1.25 billion stock buyback, pricing SpaceX shares at $185 each—a 65% increase from their valuation just three months ago.

On October 13, 2024, SpaceX\'s Starship first-stage booster, Super Heavy, was captured returning to the launch pad at the Starbase facility in Boca Chica, Texas / AFPBBNews=News1
On October 13, 2024, SpaceX’s Starship first-stage booster, Super Heavy, was captured returning to the launch pad at the Starbase facility in Boca Chica, Texas / AFPBBNews·News1

This new valuation solidifies SpaceX as the world’s most valuable private company, surpassing ByteDance, TikTok’s parent company, which had a $300 billion valuation in November.

CompaniesMarketCap says only 27 publicly traded companies worldwide have higher valuations than SpaceX.

Already the world’s wealthiest individual, Musk has seen his net worth balloon to $384 billion.

Founded by Musk in 2002, SpaceX specializes in developing launch vehicles and spacecraft. It works under contracts with NASA, the Department of Defense, and private companies. It provides critical services, including cargo and passenger transportation to space.

Earlier this year, SpaceX was pivotal in rescuing astronauts stranded on the International Space Station (ISS) following equipment failures on Boeing’s Starliner spacecraft.

The company is also advancing its ambitious Starlink project, a satellite network that provides global internet coverage.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible
  • Toyota’s bZ3X SUV Surges with 10,000 Pre-Orders: A New Era in EVs

You May Also Like

  • 1
    New Drug Cuts Heart Disease Risk by 94%—And Has No Major Side Effects

    LIFESTYLE 

  • 2
    Wegovy Maker Strikes $1B Deal for Next-Gen Obesity Treatment

    LIFESTYLE 

  • 3
    This Celebrity Lost 7kg—and Her Diet Includes ...

    LIFESTYLE 

  • 4
    Red vs. White Wine: Which Is Riskier for Cancer? New Study Has the Answer

    LIFESTYLE 

  • 5
    Breakfast vs. Dinner: Which Meal Should You Load Up On for Better Health?

    LIFESTYLE 

Popular Now

  • 1
    Eat More Greens—But Skip the Fake Stuff, Scientists Warn

    LIFESTYLE 

  • 2
    Veggies vs. IBD: New Research Says the Right Diet Might Be a Game-Changer

    LIFESTYLE 

  • 3
    Eli Lilly Moves First in India, Beats Novo in Obesity Drug Showdown

    LIFESTYLE 

  • 4
    Trump’s Soda Button and 12-Can Habit: A Recipe for Trouble?

    LIFESTYLE 

  • 5
    New FDA-Approved Pill Targets Constant Hunger in Children with PWS

    LIFESTYLE 

Must-Reads

  • 1
    New Drug Cuts Heart Disease Risk by 94%—And Has No Major Side Effects

    LIFESTYLE 

  • 2
    Wegovy Maker Strikes $1B Deal for Next-Gen Obesity Treatment

    LIFESTYLE 

  • 3
    This Celebrity Lost 7kg—and Her Diet Includes ...

    LIFESTYLE 

  • 4
    Red vs. White Wine: Which Is Riskier for Cancer? New Study Has the Answer

    LIFESTYLE 

  • 5
    Breakfast vs. Dinner: Which Meal Should You Load Up On for Better Health?

    LIFESTYLE 

Popular Now

  • 1
    Eat More Greens—But Skip the Fake Stuff, Scientists Warn

    LIFESTYLE 

  • 2
    Veggies vs. IBD: New Research Says the Right Diet Might Be a Game-Changer

    LIFESTYLE 

  • 3
    Eli Lilly Moves First in India, Beats Novo in Obesity Drug Showdown

    LIFESTYLE 

  • 4
    Trump’s Soda Button and 12-Can Habit: A Recipe for Trouble?

    LIFESTYLE 

  • 5
    New FDA-Approved Pill Targets Constant Hunger in Children with PWS

    LIFESTYLE 

Share it on...