The car company Tesla, founded less than two decades ago, is now worth more than American auto corporations Ford and General Motors combined.
The company's value was steady at $516 per share at the beginning of this week, sending its total market cap to $93 billion. That puts its valuation well above the combined total of Ford ($37 billion) and GM ($50 billion), companies that dominated the American auto industry for decades.
Tesla is not only the most valuable car company in the American economy, it's the most valuable in American history. It has enjoyed surging sales in addition to its skyrocketing value, selling more cars in 2019 than it did in the previous two years combined.