Tesla CEO Elon Musk has purchased about $1 billion worth of company stock, a move disclosed in a U.S. regulatory filing that lifted Tesla’s share price by six percent on Monday.
The Securities and Exchange Commission filing showed Musk bought 2.57 million shares on Friday at prices between $371 and $396. The purchase came the same month Tesla unveiled a proposed compensation plan that could eventually grant Musk over $1 trillion, if the company achieves targeted growth from new technologies.
Tesla chair Robyn Denholm defended the package in recent media appearances, calling Musk “a generational leader” capable of steering the company for the next decade. The plan could give Musk as much as 12 percent more ownership if Tesla’s market capitalization reaches at least $8.5 trillion by 2035.
Tesla is currently appealing a Delaware court decision that voided a 2018 compensation deal worth $55.8 billion. The company’s current market value is just over $1 trillion, down from earlier highs following weaker earnings.
Analysts say recent declines stem partly from Musk’s political positions, which have drawn criticism and hurt Tesla sales in key markets.
The filing underscored Musk’s continued financial bet on Tesla as the company navigates regulatory challenges, falling demand, and investor scrutiny over its leadership and future growth plans.
