On the Dash:
- Elon Musk purchased $1 billion worth of Tesla stock on Sept. 12, marking his first buy since 2020.
- Tesla shares jumped more than 6% in early trading following the disclosure, reaching their highest level since January.
- Musk’s purchase signals confidence in Tesla’s future and supports his push to increase voting power toward 25%.
Tesla shares jumped over 6% during early trading on Monday after CEO Elon Musk revealed he purchased $1 billion worth of stock, signaling confidence in the company’s future and bolstering his push for greater control.
According to a filing published by the SEC, Musk purchased 2.57 million shares on Friday, Sept. 12, at prices ranging between $372.37 and $396.54 per share. Following the disclosure, Tesla shares hit their highest price since Jan. 22. The stock is currently up 4% year-to-date, recovering from a steep 45% drop in April.
The investment aligns with Tesla Chair Robyn Denholm’s push to award Musk a substantial $1 trillion pay package. It also underscores Musk’s effort to increase his voting power to 25%. As of December, he held a 13% stake in the company.
According to data from Bloomberg, the last time that Musk purchased Tesla stock was in February 2020. Ahead of acquiring Twitter in 2022, he sold more than $20 billion in stock.
Musk’s latest investment is a clear signal of his confidence in Tesla’s trajectory despite the challenges in the first half of 2025.
