Tesla Inc. ($TSLA) shares surged in premarket trading after Elon Musk bought about $1 billion worth of stock through a revocable trust, coinciding with the board’s pitch for a record-breaking compensation package. The move marks Musk’s first open-market purchase since 2020 and signals confidence after a difficult year for the EV maker.
- Musk acquired the shares on Sept. 12, according to a regulatory filing released Monday.
- The purchase followed Tesla Chair Robyn Denholm’s defense of a proposal to award Musk up to $1 trillion in stock tied to performance and valuation milestones.
- Tesla stock rose as much as 7.3% in premarket trading, positioning the shares back into positive territory for 2025 after being down 45% earlier this year.
- Musk last bought Tesla shares in February 2020; he sold over $20 billion worth in 2022 to finance his acquisition of Twitter.
- Tesla’s global vehicle deliveries fell 13% in the first half of 2025 as U.S. EV incentives near expiration, though Musk has highlighted long-term bets on robotaxis and humanoid robots.
- With a net worth of about $419 billion, Musk remains the world’s richest person, according to Bloomberg.
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- TSLA – Shares rose in response to Musk’s $1B purchase, signaling investor optimism after a weak first half of 2025.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
