Reported 1 day ago
Elon Musk purchased approximately $1 billion worth of Tesla shares through a revocable trust, shortly after the company's board proposed an unprecedented $1 trillion pay package contingent on achieving significant production and performance milestones. This ambitious proposal aims to elevate Tesla's market capitalization to $8.5 trillion over the next decade. Following the announcement of Musk's stock acquisition, Tesla's shares surged over 7% in pre-market trading, despite a year-to-date decline in stock value. Musk faces challenges ahead as he attempts to regain investor confidence amid critiques of U.S. EV policies and declining sales in key markets.
Source: YAHOO