Overview

• Musk disclosed buying 2.57 million shares on Sept. 12 via a revocable trust at $372.37 to $396.54 per share, according to an SEC filing.
• The transaction marks his first open‑market Tesla buy since 2020 and his largest by value.
• Tesla shares jumped roughly 6% to 8% in premarket and early trading after the filing was released.
• Tesla’s board has proposed granting up to about 12% of shares through performance tranches tied to multi‑trillion‑dollar valuation and aggressive robotaxi, robotics and AI goals, pending a shareholder vote.
• The buy comes as Musk presses for roughly 25% voting control and as Tesla faces slowing EV demand, margin pressure and rising competition.