Elon Musk recently bought about 2.5 million new shares of Tesla. His latest purchase above is his first open market stock buy since 2020. The transactions were disclosed in a regulatory filing on Monday, showcasing Musk’s renewed investment in the electric vehicle company he co-founded. This latest move comes just on the heels of us reporting Tesla’s board of directors proposing a highly ambitious compensation plan for Tesla’s CEO totaling upwards of $1 trillion.
Tesla’s new compensation plan would give Musk as much as 12 percent of the company if it hits certain revenue and target goals. Musk has an outsized 13% stake in Tesla, as is. He’s long sought more control, at times insisting on a 25% ownership in the firm. His interests and ambitions have certainly made for plenty of intrigue. This is true particularly in light of the recent scandals associated with his public rhetoric and GOP ties.
Share On Saturday, Musk joined by video link a rally and anti-Muslim agitator Tommy Robinson London. Unfortunately, during his speech he made comments that have since been criticized from all sides. The British government condemned the Western Union chief for engaging in “dangerous and inflammatory language.” This should’ve raised public safety alarm bells, as serious examples such as this could easily incite violence.
Musk has announced his support for former US President Donald Trump in the 2024 election. This new stance announced in late 2021 has generated so much discussion, debate, and dialogue. A few months ago, Musk and Trump experienced a rather public and entertaining spat. This change in their relationship has led to rampant speculation about Musk’s future political endeavors.
“What [Musk] does from a personal perspective in terms of his political motivations, et cetera, is up to him.” – Robyn Denholm
Denholm, Tesla’s chairwoman, said strong leadership will be crucial while the company faces an extremely disruptive time in its history.
“We believe he is the right CEO for Tesla over this transformative period of time.” – Robyn Denholm
Despite the controversies surrounding Musk’s actions and statements, his recent stock purchases signal a continued commitment to Tesla’s future. He’s been adamant that the company should sink billions into robotaxis, automation and artificial intelligence (AI). He’s convinced that these innovations are at the heart of the company’s growth strategy.