- Elon Musk bought 2.57 million Tesla shares on Friday, spending about $1 billion, marking his largest open-market purchase since February 2020.
- Tesla shares rose 3–6% on Monday following the disclosure, closing at $410.04.
- The move coincides with Tesla proposing a new compensation plan for Musk, potentially worth up to $975 billion if extreme performance goals are met.
- Goals include massive growth in market value, car production, and operating profit. Achieving the full payout would require Tesla to reach an $8.5 trillion market value, compared to its $1.3 trillion valuation.
- The package will be voted on at Tesla’s annual shareholder meeting on November 6.
Tesla Shares Gain After Elon Musk Reveals $1 Billion Stock Purchase
