With CEO Elon Musk constantly in the news, and often not in a good light, the media coverage can overshadow Tesla's massive successes. According to Fortune, the little startup automaker that has crazy ideas, burned cash, and was expected to go bankrupt is now among the fastest-growing companies across the globe.
Fortune notes that 2021 was a record growth year for its Top Global 500 list, so it was a tough year for some companies to either make the list or stay on it. The publication also points out that while many of the top-ranked companies showed revenue gains for 2021, very few grew exponentially, and Tesla was among them.
Not only is Tesla among the fastest-growing companies worldwide, but it's also the fastest-growing "big" company in the US, topping the growth of every last one of its peers over the course of a year.
Tesla first made Fortune's list last year, landing in the 392nd spot out of 500. Over the course of just one year, it shot up 150 spots thanks to 71 percent revenue growth. Moreover, Tesla is the 19th largest automaker in the world based on revenue. The EV company delivered nearly 1 million cars in 2021, which marks an 87 percent year-over-year increase.
Fortune's Top 20 fastest-growing companies reported a combined revenue of $1.2 trillion. The publication ranked them based on how many positions they climbed on the Top 500 list year-over-year. The companies on the top 20 list move up by an average of 126 spots, with average revenue growth of a whopping 71 percent.
Of course, companies from China grew faster than companies from other countries. However, Tesla moved up the most among companies in the US, from 392 out of 500 to 242 on Fortune's Global 500 list. In fact, according to Teslarati, Tesla was fourth overall on the Top 20 growth list, only exceeded in year-over-year growth by China National Coal Group, CMA CGM, and Ansteel Group.
As we always say, we love to read your comments. Let us know what you think of this story, and share your Tesla forecast with us. Will its big lead come to an end down the road?