Overview

• An SEC filing shows Elon Musk acquired about 2.57 million Tesla shares on Sept. 12 via a revocable trust, paying roughly $372.37 to $396.54 per share.
• Tesla shares jumped more than 7% in premarket trading after the disclosure and finished the session higher.
• The purchase is Musk’s first open‑market buy since early 2020 and follows a challenging year for Tesla marked by softer EV demand, tighter margins and rising competition.
• The move comes shortly after Tesla’s board proposed a decade‑long compensation plan tied to demanding milestones, with a shareholder vote set for Nov. 6.
• Analysts say the buy reinforces Musk’s push for greater voting power to drive Tesla’s pivot toward AI, robotaxis and robotics, goals he has linked to roughly 25% voting control.