Elon Musk returns focus to Tesla with record $1B stock purchase

Elon Musk bought about $1 billion worth of Tesla stock last week, a regulatory filing showed, lifting the electric-car maker’s shares by almost 6% in pre-market trading on ￰0￱ to the filing released Monday, Musk acquired roughly 2.57 million Tesla shares at prices ranging from $371 to $396. The buying coincided with Tesla chair Robyn Denholm defending the board’s choice to propose a possible $1 trillion pay package , contingent on Musk meeting tough goals over the next ten ￰1￱ described Musk as a “generational leader” and said the best way to “optimise the future of Tesla” is to keep him in ￰2￱ is the world’s richest person, with an estimated fortune of $419 ￰3￱ the weekend, an interview with Pope Leo cited Musk as an example of extreme wealth that, he said, was eroding essential ￰4￱ pope said such fortunes were undermining “the value of human life, of the family, of the value of society.” Open-market buys by Musk are rare Data from Verity show his prior open-market purchase was about 200,000 shares worth roughly $10 million on February 14, ￰5￱ dollar amount, last week’s buying is his largest ever, according to ￰6￱ this month, Tesla said it would put to shareholders a compensation plan for Musk that could reach as much as $975 billion tied to a set of ambitious ￰7￱ Friday’s buying, Musk held about 13% of the ￰8￱ stock has struggled this year as sales ￰9￱ observers link part of the slowdown to Musk’s political activity , which they say has weighed on the brand, while the phase-out of certain electric-vehicle incentives by the Trump administration also removed a ￰10￱ are ￰11￱ current Wall Street consensus price target implies about a 20% drop from current levels, according to ￰12￱ remain positive on the longer-term path if Musk can steer Tesla toward a heavier focus on autonomous driving, artificial intelligence, and ￰13￱ is also asking investors to authorize a Tesla investment in his new firm, xAI.

Musk’s investment signals renewed focus on Tesla A. I Dan Ives, global head of tech research at Wedbush, said the insider buying “is a huge sign of confidence for Tesla bulls and shows Musk is doubling down on his Tesla A. I. bet.” The compensation plan to be put to a shareholder vote in November carries an ultimate goalpost of an $8.5 trillion market valuation.

Tesla’s market value stood at about $1.3 trillion at Friday’s ￰14￱ recent remarks as reported by Cryptopolitan, Denholm pushed back on concerns that Musk’s political engagement has damaged the ￰15￱ said he is free to participate in elections as he sees ￰16￱ said the company is focused on its products and customers rather than the chief executive’s personal views. “What he does from a personal perspective in terms of his political motivations is up to him,” she said in an interview with Bloomberg Television. “From a politics perspective, obviously we’re in a democracy, so everybody gets to voice their points of view.” Musk’s role in politics has stirred two main worries for ￰17￱ shareholders say it pulls his attention away from growing the ￰18￱ contend his contrarian conservative stance and a tense association with President Donald Trump have turned off potential buyers and hurt the brand.

Operationally, global vehicle deliveries fell 13% in the second ￰19￱ once affluent, urban and climate-focused customer base has ￰20￱ a few instances, the backlash has crossed into crime, including sporadic arson and vandalism at stores and charging ￰21￱ is also contending with an aging model lineup and tougher competition across the electric-vehicle ￰22￱ you're reading this, you’re already ￰23￱ there with our newsletter .