#political-involvement

#political-involvement

Billionaire Elon Musk has scooped up roughly $1bn (735m) worth of Tesla shares, in what is being seen as a vote of confidence in the electric car maker. Shares in Tesla, which have struggled to advance this year, jumped more than 6% in early trading on Monday on the news. Musk already held a roughly 13% stake in the company, but he has long sought more control of the firm, which he has been pushing to invest in robotaxis, automation and artificial intelligence (AI).

"Actually, having his creative energies in various endeavours that are outside of Tesla actually helps Tesla. I know that sounds perverse, and people don't really understand that," Denholm said. "But having worked with him now for 11 years, it actually benefits Tesla with him doing things that are not in the mission of Tesla outside of Tesla, both from a resource perspective, but also from a motivation perspective."