Tesla's stock price surged on Monday after it was disclosed that tech billionaire Elon Musk bought about $1 billion worth of shares in the automaker company on Friday.
Musk's massive Tesla stock purchase — his first in more than five years — was revealed in a regulatory filing on Monday, as the electric vehicle maker he cofounded in 2003 mulls a decade-long pay package that could make him a trillionaire if he meets several aggressive targets. The pay package will be up for consideration at Tesla’s annual shareholder meeting in November.
Musk's massive buy through a trust was seen as a sign of confidence in the company, with Tesla stock surging 5 percent in morning trading on Monday, according to The Associated Press.
Tesla faced blowback earlier this year as Musk took on a role in the Trump administration leading White House's Department of Government Efficiency (DOGE). He stepped down from the role in May, while engaging in a public feud with President Trump.
Hence then, the article about musk buys 1b in tesla stock as board pitches new compensation plan was published today ( ) and is available on The Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Musk buys $1B in Tesla stock as board pitches new compensation plan )
Also on site :