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Tesla rallies to an eight-month high after Elon Musk buys more than $1B worth of shares
Elon Musk's $1 billion stock purchase reinforces his commitment amid Tesla's sales decline and a proposed pay package that could grant him up to 12% ownership if targets are met.
- Elon Musk disclosed the purchase of more than 2.5 million Tesla shares valued at approximately $1.5 billion, causing the stock to rise more than five percent in morning trading.
- Tesla plans to provide Musk with up to 12 percent of the company in shares if he meets aggressive performance targets, potentially making him the world's first trillionaire.
- Musk must convince investors that Tesla's market value will reach $12.7 trillion to receive all shares in the new pay package.
- Tesla is facing challenges including declining sales and competition from American automakers and China, while Musk's political affiliations have raised market concerns.
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86 Articles
86 Articles
Tesla share surge as Elon Musk buys $1B in stock — coming on heels of $1T compensation package
Elon Musk revealed Monday that he purchased $1 billion worth of Tesla’s stock – a major show of confidence that sent shares of the electric car maker surging 8% in premarket trading.
·New York, United States
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Elon Musk again demonstrates his confidence in Tesla, in a movement that has boosted the company's value and reinforced its image as a great entrepreneur
Coverage Details
Total News Sources86
Leaning Left17Leaning Right11Center30Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 29%
C 52%
R 19%
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