Overview
- An SEC filing shows Musk acquired about 2.57 million Tesla shares on Sept. 12 through a revocable trust at prices between $372.37 and $396.54.
- Tesla rose roughly 7%–8% in premarket trading after the disclosure, marking the CEO’s first open‑market buy since early 2020 and his largest by value.
- The purchase slightly increases Musk’s ownership and aligns with his stated aim for greater voting power, which he has previously pegged around 25%.
- The buy follows the board’s proposal of a multi‑tranche, performance‑based compensation plan worth up to about $1 trillion, set for a Nov. 6 shareholder vote.
- Analysts framed the move as a vote of confidence even as Tesla contends with softening EV demand, margin pressure, and intensifying competition.