New York (CNN Business) Elon Musk's electric car business exceeds the value of almost every company in the S&P 500, including some iconic American companies. Tesla TSLA . Shares ofwere up 4% in midday trading Wednesday to a new record high of above $1,120 a share. At that price, Tesla's market cap is nearly $210 billionAT&T T PayPal PYPL Now there are only 19 companies in the S&P 500 worth more than Tesla. Tesla is also worth more than-- a company that was formed from the merger of another payments company co-founded by Musk.

Source: CNN July 01, 2020 18:33 UTC