NEW YORK (BN24) — Tesla CEO Elon Musk has purchased nearly $1 billion worth of the electric carmaker’s shares, a regulatory filing revealed, bolstering his control over the company at a time when Tesla is pushing into new frontiers in artificial intelligence, robotics, and autonomous driving.
The filing, made public late Friday, showed Musk acquired 2.57 million Tesla shares through open-market transactions at prices ranging between $372.37 and $396.54 per share. The purchases marked one of Musk’s largest personal investments in Tesla stock in recent years.
Tesla shares jumped more than 7% on Friday and climbed over 8% in premarket trading Monday, setting the stock on course for a third consecutive session of gains. The company’s shares remain down about 2% so far this year, but the surge suggested renewed investor confidence following Musk’s move.
Musk, who already holds about a 13% stake in Tesla, has repeatedly pressed for greater voting power — ideally 25% control — warning he may pursue major projects in AI and robotics outside the company if his influence is not expanded.
The billionaire entrepreneur has positioned Tesla not just as an electric vehicle manufacturer but as a broader technology company, racing to develop robotaxis, humanoid robots, and next-generation AI systems.
Earlier this month, Tesla’s board proposed a trillion-dollar compensation plan for Musk, signaling strong internal backing despite mounting competition in the EV market and slowing demand.
Tesla board chair Robyn Denholm defended Musk on Friday, dismissing investor concerns that his political activity — including public disputes with President Donald Trump — had harmed sales. She insisted Musk was “front and center” at Tesla again after spending months at the White House, where his policy involvement drew criticism and distracted from company operations.
Musk’s clashes with Trump and his polarizing political commentary had weighed on Tesla’s stock earlier this year, sparking concerns about potential damage to the brand. However, the billionaire’s billion-dollar buy-in has been widely seen as a signal of long-term confidence in Tesla’s future trajectory.
