Elon Musk, Head Of Tesla Becomes CEO Of A Fortune 500 Company

By Rajkamal

Elon Musk, the head of Tesla has now become the CEO of a Fortune 500 company as the American firm is now part of the Fortune 500 list of the nation's largest companies.

The list ranks companies based on their revenue and Tesla had recorded $7 billion in 2016.

Elon Musk, Head Of Tesla Becomes CEO Of A Fortune 500 Company

Sales had risen 73 percent from the past years, owing to Tesla's acquisition of solar panel company SolarCity. Most of the sales though were boosted with the help of electric car sales, the majority coming from the Model X.

Elon Musk, Head Of Tesla Becomes CEO Of A Fortune 500 Company

Sales are expected to grow, as Musk informed Tesla's shareholders at the company's annual meeting that the firm is on track to start production of the company's first mass market vehicle, the Model 3.

Elon Musk, Head Of Tesla Becomes CEO Of A Fortune 500 Company

Tesla's stock price has already made the company one of America's largest firms and has already surpassed Ford and GM to become one of US' most valuable carmaker regarding market capitalisation.

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Read more on: #tesla #green vehicles
Article Published On: Thursday, June 8, 2017, 17:00 [IST]
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