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Musk Answers Tesla’s Pay Proposal With $1 Billion Stock Buy.
stock :: 2025-09-15 :: source - bloomberg
By Craig Trudell and Ben Stupples
(Bloomberg) — Elon Musk responded to an unprecedented pay proposal from Tesla Inc.’s board by buying about $1 billion worth of shares, sending the stock soaring in premarket trading.
The billionaire bought the stock indirectly through a revocable trust on Sept. 12, according to a regulatory filing released Monday. The purchases coincided with Tesla Chair Robyn Denholm speaking with Bloomberg News about the merits of a pay package for Musk that could be worth upwards of $1 trillion if the company achieves a series of ambitious market value and performance milestones.
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Robyn Denholm, chair of Tesla’s board of directors, says Elon Musk is a
“generational leader” and the right CEO for Tesla.Source: Bloomberg
Tesla (TSLA) shares jumped as much as 7.3% in premarket trading. If the gains hold into the regular trading session, the stock will return to positive territory for 2025, having recovered from a 45% decline as of early April.
Musk, 54, last bought Tesla stock in the open market in February 2020, according to data compiled by Bloomberg. He offloaded more than $20 billion of the company’s shares in 2022, the year he acquired Twitter.
The purchase amounts to a show of confidence in Tesla’s prospects after a challenging first half of the year in which vehicle deliveries slumped 13% worldwide. While Musk has talked up the potential of Tesla’s pursuit of robotaxis and humanoid robots, he’s also cautioned that the company could be in for “a few rough quarters” after the US phases out electric-car purchase incentives.
Musk is the world’s richest person with a net worth of about $419 billion, according to the Bloomberg Billionaires Index.
(Updates with Musk’s last open-market purchase in the fourth paragraph.)
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