Overview

• An SEC Form 4 shows the Elon Musk Revocable Trust bought about 2.57 million Tesla shares on Sept. 12 at roughly $372 to $396 per share, totaling near $1 billion.
• The acquisition lifts Musk’s holdings to about 413 million shares, or roughly a 13% stake, marking his first significant open‑market purchase since 2020 and his largest by value.
• Tesla shares jumped roughly 6% to 8% in premarket trading after the disclosure, with the move seen by investors as a public vote of confidence.
• The purchase precedes a Nov. 6 shareholder vote on a proposed CEO award that could be worth up to about $975 billion to $1 trillion if extremely ambitious operational and market‑cap milestones are achieved, including targets up to roughly $8.5 trillion.
• Musk has previously said he wants around 25% voting power to advance Tesla’s AI and robotics ambitions, while separate reports noted unusual short‑dated call activity around the trades that remains unconfirmed.