Elon Musk buys Tesla shares worth about $1 billion after board's $1-trillion pay package offer
Billionaire Elon Musk bought 2.57 million shares of Tesla for a total of about $1 billion, according to an SEC filing. This move pushed the EV carmaker's shares to jump over 8% in premarket trading, Reuters reported. Earlier, Tesla's board proposed a $1-trillion pay package for Musk with conditions like raising the firm's capitalisation to $8.5 trillion in 10 years.