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Tesla adds more than $100 billion in value after Twitter announcement


Tesla has added more than a hundred billion dollars to its market value after the company announced a stock split.

The share jump means Tesla added as much to its market value today as the total value of companies like IBM, Boeing and Goldman Sachs.

The announcement was made via Twitter a few hours before the markets opened in the US.

Teslas are in high demand as high petrol prices send drivers looking for alternatives.
Teslas are in high demand as high petrol prices send drivers looking for alternatives. (Getty)

“Tesla will ask shareholders to vote at this year’s annual meeting to authorise additional shares in order to enable a stock split,” the tweet read.

The company’s value is now worth nearly $1100 a share.

It is believed a stock split will make Tesla more attractive to individual investors, further boosting its price.

A person who bought a single share of Tesla for $22 in 2010 when it was first listed would now have more than $5000 in shares today.

Elon Musk's wealth has exploded in recent years.
Elon Musk’s wealth has exploded in recent years. (Getty)

He wrote he has almost no symptoms.

He then tweeted a meme about Google Maps.

High petrol prices are leading to a surge in demand for electric cars like Tesla.

Because of long waiting lists for new cars, some used Teslas are now selling for higher than the retail price at auction house Lloyd’s.

“Right now, we have a 2022 Tesla Model 3 on offer with the current bid sitting at $71,000 where they actually retail for around $68,000 and the bidding is set to close in a few days time,” Chief Operations Officer Lee Hames said.

“With the current fuel prices, people are realising how much they can save in fuel per year by owning an electric vehicle.”

Tesla is the sixth biggest company in the world by market capitalisation, behind Apple, Microsoft, Saudi Aramco, Alphabet and Amazon.

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