Entrepreneur Stories
Elon Musk led Tesla joins Fortune 500 list
Another feather was added to the feather filled hat of Elon Musk as his latest venture Tesla joins the Fortune 500 list. Tesla was ranked 383 on the list because of the $7 billion it brought in as revenue. It has already surpassed both Ford Motors and General Motors to become the most valuable U.S., automaker in terms of market capitalization.
With a 73% spike in sales since the previous fiscal year, Musk told Tesla shareholders on Tuesday, the company is on track to start production of the Model 3. China turned out to be the highest buyer of Tesla’s electric luxury cars. Tesla reached over $1 billion in revenue in the country which is currently the biggest market for electric vehicles.
Elon Musk is also the CEO of SpaceX, a private sector rocket company that carriers satellites into the orbit. Tesla happens to be the first new car manufacturer to join the list since 1999. WalMart topped the list with a revenue of $485.87 billion and profits of $13.64 billion. Apple reprised its No. 3 spot on the list and Amazon stood at No. 12
Related: List Of Profitable Businesses You Can Do With A Limited Budget Of Rs.10000
The Fortune 500 list was first started in the year 1955. This 63rd iteration features 32 women led companies and companies that generate a combined revenue of $12 trillion and a combined profit of $890 billion.
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