Overview

• An SEC Form 4 shows Elon Musk bought about 2.57 million Tesla shares on Sept. 12 via his revocable trust at roughly $372–$396 per share, totaling around $1 billion.
• Tesla jumped more than 7% in premarket trading after the disclosure and later closed near $410, extending a recent rebound from earlier-year weakness.
• This is Musk’s first open‑market Tesla purchase since early 2020 and his largest by dollar value, reinforcing his public commitment to the company.
• The buy follows Tesla’s proposal of a decade‑long CEO award worth as much as about 12% of the company, contingent on aggressive production, profit and market value targets, with a shareholder vote set for Nov. 6.
• Musk has pressed for greater voting influence around 25%, and analysts framed the purchase as a confidence signal as Tesla navigates slower EV sales and rising competition; his 2018 pay plan was struck down in Delaware court.