I imagine there is also a size component involved. The Earth's magnetic field might be 31,000 nanoTesla, but it's spread over an enormous volume. This magnetic shield would have to be much smaller than a planet, so it makes sense that it should have a much strong field.
He said the best plan for a shield for Mars is a 500,000 nanoTesla field at L1 which is 320 Mars radii away from Mars.
Maybe I am misunderstanding what he is saying or pronouncing, nanoTesla i.e. billionths of a Tesla?