Tesla Motors, the maker of electric cars run by billionaire Elon Musk, surged 24 percent after posting a first profit, beating estimates and earning a top evaluation for its Model S sedan from Consumer Reports.

Tesla closed at $69.40, allowing Musk to pocket about $450 million of additional worth. Its market capitalization totaled $8 billion, exceeding the $7.8 billion for Fiat, the majority owner of Chrysler.