Overview

• A regulatory filing shows Musk purchased about 2.56 million Tesla shares for roughly $1 billion on September 12 via a revocable trust, marking his first open‑market buy since 2020.
• Tesla jumped roughly 7–8% in premarket trading and closed up 2.82% at $421.62, extending a weeklong rally noted by analysts.
• Tesla has proposed a performance‑only equity package that could grant Musk up to about 12% of the company in tranches tied to aggressive operating and market‑value targets, with investors set to decide at the November 6 annual meeting.
• Board chair Robyn Denholm said Musk’s political activity is his personal choice and expressed confidence in Tesla’s products, as investors weigh recent delivery declines and market‑share pressure.
• Shares later cooled after U.S. safety regulators opened a new probe into around 174,000 Model Y vehicles from 2020–2021 over electronic door‑handle failures, and on a related front Musk’s xAI cut roughly 500 jobs in a stated strategy shift.