Elon Musk has made a significant financial move to solidify his leadership at Tesla, purchasing nearly $1 billion worth of the company’s stock. A regulatory filing revealed the CEO acquired 2.57 million shares in open-market transactions, signaling his deep commitment to the electric-vehicle maker’s future. This major investment comes as Musk continues to advocate for greater voting power within the company he co-founded.
The market responded with strong optimism to the news. Tesla shares surged by more than 8% in premarket trading on Monday, indicating robust investor confidence in Musk’s leadership. The purchase, made on Friday at prices ranging from $372.37 to $396.54 per share, builds on recent gains for the stock, which is now on track for its third consecutive session of growth.
This transaction is not happening in a vacuum. It follows the Tesla board’s recent proposal of a massive trillion-dollar compensation plan for Musk, a clear endorsement of his long-term vision. Musk has been vocal about his desire for a 25% voting stake to steer the company’s ambitious pivot into artificial intelligence and robotics, a goal his latest purchase directly supports.
As of December, Musk’s holding in Tesla was approximately 13%. This latest acquisition substantially reinforces his position, providing him with more leverage as he guides the company through a competitive landscape and fluctuating demand for electric vehicles. The move is a clear statement that Musk is doubling down on Tesla’s transition from a car company to a dominant force in technology.