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4d ago

Musk Buys $1 Billion in Tesla Shares, Lifting Stock in Pre‑Market Trade

The move comes ahead of a November shareholder vote on a performance-based pay plan that could expand his voting power if steep milestones are met.

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Overview

  • An SEC filing released Monday shows Elon Musk purchased about 2.57 million Tesla shares on September 12 at $372 to $396, increasing his stake by roughly 0.6 percentage points.
  • The acquisition was made indirectly via a revocable trust and is his largest open‑market Tesla buy since 2020.
  • Tesla shares jumped roughly 6% to 9% in pre‑market trading after the disclosure became public.
  • The board has proposed a new CEO compensation award that could be worth up to $1 trillion if ambitious targets are achieved, including reaching about an $8.5 trillion market value by 2035.
  • The purchase lands as Tesla faces recent delivery declines and a pivot toward robotaxis and humanoid robots, intensifying investor focus on governance and long‑term strategy.