Musk, CEO of Tesla, buys $ 1 billion in shares in the main payment package

CEO of Tesla Elon Musk On Monday, about a billion dollars of Hearter-Venthicle maker shares have been purchased in a confidence offering about the company’s future.

An organizational file revealed that Musk bought 2.57 million shares Tesla stock Friday, at a price ranging between $ 372.37 and $ 396.54 per share.

The purchase of Musk is the first time since the early 2020s that TESLA has bought in the open market and comes with the company’s transfer to emphasizing artificial intelligence (AI), robots and robots amid the slow EV market.

It also comes at a time when billionaire seeks more control over Tesla, and the company’s board of directors has set a trillion dollar compensation package aimed at addressing its goals while setting ambitious financial and operational goals for Musk.

Tesla offers a huge payment package of $ 1 trillion to Elon Musk

Musk sought to increase the voting power and a greater share in Tesla and said previously that if he did not receive a 25 % voting authority, he would prefer to do his work on Artificial intelligence and robots Outside the company. As of December, Musk had approximately 13 % stake in the company, according to LSEG data.

Jed Dorsheimer, head of the William Blair Energy and Energy Technologies Group, said that the company is seeing the purchase of Musk shares “as a clear sign of confidence from Musk,” noting that the stock has risen on the news.

“With the purchase of Musk, along with the bullish momentum of delivery and Robotaxi decline, we are more upward but we keep the performance classification in the market,” Dorcimer said.

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index	protection	last	Changing	% Change
Timing	Tesla Inc.	410.04	+14.10	+3.56 %

Tesla shares rose more than 5.3 % to the early afternoon after purchasing Musk.

The previous compensation package in Musk, which was afflicted with a Dilayer judge Regarding concerns about billionaire relations with the members of the Board of Directors who agreed to the deal in 2018 as well as the unprecedented size of the $ 56 billion compensation plan, is currently appealing.

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Tesla argued the importance of Musk to Tesla and the incentives based on performance in the compensation plan justified the large rewards if the standards were reached under the 2018 package. The company also issued a smaller prize of 29 billion dollars to Musk as a “good -intention” for the plan that is placed in the courts.

The new package will require $ 1 trillion The approval of the shareholders Before the largest compensation plan – which will be the largest wage package in history – begins.

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“Similar to the 2018 package, this is purely dependent on Tesla’s performance and determines musk with shareholders by 100 %,” Dorcimer said. “Musk has full support for the council, and we expect that it will get more than the support of the shareholders enough to pass it in flying colors.”

Reuters contributed to this report.