Tesla shares jumped more than 5% on Monday morning after CEO Elon Musk disclosed a massive purchase of 2.5 million shares worth roughly $1 billion, signaling renewed confidence in the electric vehicle giant’s future.
According to a regulatory filing, Musk bought the stock in multiple transactions on Friday at varying prices. The bold move is already being read by investors as a vote of faith from the billionaire leader, fueling excitement around Tesla’s trajectory.
Musk’s stock grab comes just weeks after Tesla unveiled a jaw-dropping proposed compensation plan for its CEO… one that could potentially make him the world’s first trillionaire if Tesla smashes a set of ultra-aggressive performance targets over the next decade.
The package, if approved by shareholders, would grant Musk up to 12% of Tesla’s total shares in 12 tranches… but only if the company achieves monumental growth milestones in production, profitability, and stock price. Unlike a cash payout, this deal would be entirely in stock, tying Musk’s fortune directly to Tesla’s success.
