Tesla CEO Elon Musk has purchased around $1 billion worth of Tesla shares, a move that boosted the companys stock by six percent on Monday, September 15. A filing with the US Securities and Exchange Commission showed that Musk, who also owns social media platform X and space company SpaceX, acquired 2.57 million shares on Friday at prices between $371 and $396 each. The investment comes in the same month Tesla outlined a proposed compensation package for Musk that could exceed $1 trillion if he delivers on ambitious growth targets driven by new technologies. Tesla chair Robyn Denholm has been actively defending the plan in recent business media appearances, describing Musk as a generational leader uniquely capable of steering the company in the years ahead. The package would give Musk up to 12 percent more of Teslas total shares if the company hits a market capitalization of at least $8.5 trillion by 2035. A shareholder vote on the proposal is scheduled for November. The plan also comes as Tesla challenges a Delaware court ruling that voided Musks previous 2018 pay deal worth $55.8 billion. Teslas market capitalization currently stands at just over $1 trillion, below earlier highs following weaker-than-expected earnings. Analysts have linked the dip in performance partly to Musks political stances and alignment with far-right figures, which have drawn backlash and slowed sales in some key markets.The post Elon Musk buys $1 billion in Tesla shares appeared first on Linda Ikeji Blog. Elon Musk buys $1 billion in Tesla shares
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Tesla CEO Elon Musk has purchased around $1 billion worth of Tesla shares, a move that boosted the companys stock by six percent on Monday, September 15. A filing with the US Securities and Exchange Commission showed that Musk, who also owns social media platform X and space company SpaceX, acquired 2.57 million shares on Friday at prices between $371 and $396 each. The investment comes in the same month Tesla outlined a proposed compensation package for Musk that could exceed $1 trillion if he delivers on ambitious growth targets driven by new technologies. Tesla chair Robyn Denholm has been actively defending the plan in recent business media appearances, describing Musk as a generational leader uniquely capable of steering the company in the years ahead. The package would give Musk up to 12 percent more of Teslas total shares if the company hits a market capitalization of at least $8.5 trillion by 2035. A shareholder vote on the proposal is scheduled for November. The plan also comes as Tesla challenges a Delaware court ruling that voided Musks previous 2018 pay deal worth $55.8 billion. Teslas market capitalization currently stands at just over $1 trillion, below earlier highs following weaker-than-expected earnings. Analysts have linked the dip in performance partly to Musks political stances and alignment with far-right figures, which have drawn backlash and slowed sales in some key markets.The post Elon Musk buys $1 billion in Tesla shares appeared first on Linda Ikeji Blog. 
