"Elon Musk has bought $1 billion worth of Tesla shares in his first open-market purchase since 2020, underscoring his commitment to the carmaker as it prepares for a shareholder vote on a record-breaking compensation package. Regulatory filings show Musk acquired 2.6 million shares through a revocable trust at prices ranging from $372 to $396, lifting his stake in Tesla above 13 per cent. The purchase sparked a rally of almost 10 per cent in early trading,"
"The move comes as Tesla's board has proposed a $1 trillion pay deal for Musk if he grows the company's market capitalisation from about $1.3 trillion to $8.5 trillion by 2035. The package would give him 12 tranches of shares if Tesla hits "formidable" milestones, including producing 20 million vehicles, launching one million robo-taxis, delivering one million Optimus robots, and lifting adjusted earnings to $400 billion."
Elon Musk purchased $1 billion of Tesla shares via a revocable trust, acquiring 2.6 million shares at $372–$396 and lifting his stake above 13 percent. The purchase triggered an early rally and helped push Tesla stock closer to last year’s all-time high. Tesla’s board has proposed a $1 trillion compensation plan that awards 12 share tranches if the company reaches aggressive growth targets by 2035, including massive vehicle production, one million robo-taxis, one million Optimus robots, and $400 billion in adjusted earnings. The plan could raise Musk’s stake to at least 25 percent and includes limits on political activities.
Read at Business Matters
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