Elon Musk just made a major money move, and Tesla’s stock is flying. The CEO dropped nearly $1 billion to buy up more shares of his own company, signaling he’s tightening his grip and going all-in on its future.
Here’s the quick rundown:
- The Buy: Musk purchased 2.57 million Tesla shares.
- The Cost: Nearly $1 billion, paid for on Friday.
- The Reaction: The market loved it. The stock jumped over 8% on the news! 📈
So, why the huge buy? It’s all about control. Musk has been very public about wanting a 25% voting stake in Tesla. He says he needs it to lead the charge on the company’s epic goals in AI, robotics, and self-driving robotaxis. This purchase gets him closer to that magic number and shows everyone he’s serious.
This comes right after the Tesla board proposed a massive, trillion-dollar pay package for him, showing they’re on board with his leadership. Even with chatter about his political activities being a distraction, this move screams that Musk’s focus is locked on Tesla’s tech-heavy future. He’s not just talking the talk; he’s investing a billion dollars to walk the walk.