A tipping point in Market Capitalisation
Here is what has caught my eye in disruption and innovation this week:
Tesla’s market capitalization is now higher than Ford’s.
Tesla's market cap reached $47.46 billion this week with Ford, the blue chip automaker that’s exactly 100 years older than Tesla, trading down causing its market cap to dip to $44.89 billion.
General Motors’ market cap is now only a stone’s throw away at $51 billion despite Tesla only shipping 76,000 vehicles last year compared to millions each year from the traditional players.
Tencent, the tech giant with a stranglehold on Chinese social media but little business outside its home country, passed Wells Fargo to become the world's tenth most valuable public company.
Putting Tencent's ranking in context:
Before Tencent, the top ten most valuable public companies were all American, and all had wide global businesses. Apple, Alphabet, Microsoft and Amazon still top the list; Johnson & Johnson, Exxon Mobil, Berkshire Hathaway, and J.P. Morgan fill it out.
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