Tesla’s market value exceeds $1 trillion

The market value of the company Tesla created by Ilon Musk has exceeded the mark of $1 trillion in trading on the New York Stock Exchange, according to trading data.

Tesla shares soared on Monday amid a deal with Hertz Global Holdings Inc. that ordered 100 thousand electric cars. The rise in share price exceeded 9%, which ensured that Tesla crossed the $1 trillion threshold.

Musk’s company is still far behind market leaders: Apple’s market value, for example, is $2.46 trillion and Microsoft’s is $2.3 trillion. But Tesla set a record for how fast it can cross the $1 trillion mark, having needed less than 18 years (founded July 1, 2003) to do so.