Elon Musk says Tesla can surpass the combined value of Apple and Saudi Aramco, the world’s 2 most valuable companies

Elon Musk says Tesla can surpass the combined value of Apple and Saudi Aramco, the world’s 2 most valuable companies

The CEO of Tesla said the EV maker's market cap could be more than Apple and Saudi Aramco combined.

Apple and Aramco are the world's top two companies by market capitalization.

The combined market cap of Aramco and Apple is six times that of Tesla, at today's stock price.

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Elon Musk, the CEO of Tesla and the world's richest man, said on Wednesday his electric vehicle company could become more valuable than the world's two largest companies — Apple and Saudi Aramco.

The combined market capitalization of tech giant Apple and Saudi Arabian state energy giant Aramco is around $4.4 trillion today. In comparison, Tesla's market cap is about $690 billion. This means Tesla would have to grow roughly six times its current size to catch up.

"I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined," said Musk, according to a transcript of Tesla's earnings call on October 19. He acknowledged it'll be tough, but it can be achieved with "a lot of work, some very creative new products, manage expansion and always the