Overnight the market capitalisation of Tesla broke through the US$100 billion ($146 billion) barrier.
As noted by Reuters, Tesla's share price has surged a further eight or so per cent while Australians were asleep.
At the time of writing, Tesla's share price is US$586 ($854), making its market capitalisation is just shy of US$107 billion ($156 billion).
This means the electric automaker is the world's second most valuable automaker behind Toyota, and a few billion ahead of Volkswagen. Last year Tesla sold roughly 367,000 cars globally across three product lines (Model S, Model X and Model 3), well behind the 10 million from each of Toyota and Volkswagen.
As part of Elon Musk's latest compensation plan approved in March 2018, the CEO is currently not being paid any money by the company.
He will, however, receive a tranche of options valued at US$346 million ($504 million) if the company's average valuation stays above US$100 billion for six months.
Should Tesla's stock price keep on rising, there are a further 11 targets which could trigger further large payouts to Musk.
As recently as the middle of 2019 Tesla's share price sank as low as US$180 ($262). Since then the company posted a surprise profit in the third quarter of 2019, unveiled its Cybertruck, and begun production of cars in China.
To give some context to today's news, here's a list of the market capitalisation of most of the major listed automakers throughout the world:
- Toyota: $297 billion (¥22 trillion)
- Tesla: $156 billion (US$107 billion)
- Volkswagen: $145 billion (€89.5 billion)
- Daimler: $79 billion (€49 billion)
- BMW: $74 billion (€46 billion)
- GM: $73 billion (US$50 billion)
- Ford: $53 billion (US$36 billion)
- Ferrari: $62 billion (US$43 billion)
- SAIC: $57 billion (271 billion yuan)
- Hyundai: $40 billion (₩31 trillion)
- Fiat Chrysler: $39 billion (US$26 billion)
- Nissan: $33 billion (¥2.5 trillion)
- Suzuki: $31 billion (¥2.3 trillion)
- Peugeot: $28 billion (€17 billion)
- Subaru: $29 billion (¥2 trillion)
- Geely: $24 billion (HK$130 billion)
- Renault: $18 billion (€11 billion)
- Mahindra: $14 billion (₹688 billion)
- Great Wall: $14 billion (68 billion yuan)
- Tata: $12 billion (₹612 billion)
- Mitsubishi Motors: $9 billion (¥647 billion)
- Mazda: $8 billion (¥612 billion)
- Aston Martin: $1.9 billion (£990 million)