San Francisco: Signalling an all-electric future is coming our way, Elon Musk-run Tesla has hit the $100 billion in stock market valuation for the first time. Tesla shares were last up 1.4 per cent at $555 after trading was closed on Tuesday, reports CNBC. The milestone came less than a month after Tesla’s stock crossed $420 — a price Musk tweeted last year which put him in much trouble. The $100 billion valuation must stay for both one-month and six-month average in order to help Musk get first of 12 tranches of $346 million in a record-breaking pay package. Tesla is currently valued more than Ford Motor and General Motors combined. Musk lost his position as Tesla Chairman after posting a notorious tweet in August last year that he was “considering taking Tesla private at $420. Funding secured”. The US Securities and Exchange Commission (SEC) sued Musk over the tweet, saying he misled investors by claiming falsely he had lined up funding for the take-private transaction. Musk reached a settlement with the SEC, agreeing to give up his role as Tesla Chairman and pay a $20 million fine.