Tesla shares rose by more than 8% after news of CEO’s transactions, a week after he was offered $1tn pay package
Elon Musk, the Tesla CEO, has purchased nearly $1bn worth of the electric-vehicle maker’s stock, a regulatory filing showed, reinforcing Musk’s push for greater control over Tesla.
Tesla shares jumped more than 8% in premarket trading on Monday following the news.
Tesla is racing to meet its ambitious targets on robotaxis, artificial intelligence and robotics as it looks to pivot from an EV maker to a tech leader. As of December, Musk held a roughly 13% stake, according to LSEG data.
Musk disclosed buying 2.57m shares in open-market transactions on Friday, paying between $372.37 and $396.54 per share, according to the filing.
