FREE Shipping in USA

 | New Arrival - Space Lamps
0

Your Cart is Empty

Tesla CEO Elon Musk confidently purchased more TSLA shares, stake now at 18.5%

by Eva Fox February 20, 2020

Tesla CEO Elon Musk confidently purchased more TSLA shares, stake now at 18.5%

On February 13, Tesla filed a document with the SEC detailing plans to issue an additional 2,650,000 shares of common stock. Tesla CEO Elon Musk and a member of Board of Directors Larry Ellison have expressed interest in buying shares. Mr. Musk wanted to acquire 13,032 shares worth $10 million.

"Elon Musk, our Chief Executive Officer, through The Elon Musk Revocable Trust dated July 22, 2003, or the Trust, has indicated his preliminary interest in purchasing up to 13,032 shares of our common stock in this offering at the public offering price, for a purchase price of approximately $10.0 million. In addition, Lawrence J. Ellison, a member of our Board of Directors, has indicated his preliminary interest in purchasing up to 1.303 shares of our common stock in this offering at the public offering price, for a purchase price of approximately $1.0 million."

Mr. Musk purchased 13,032 TSLA shares in the amount of $10 million. He acquired them on average at $767 each, increasing his stake to 18.5% of the company’s shares.

The purchase of shares in his own company demonstrates that Mr. Musk is confident in its economic prospects. In April 2004, he first invested personal funds in Tesla in the amount of $6.35 million. He continued to give the company money for another three subsequent rounds between 2007 and 2012. Mr. Musk is confident in the success of Tesla, so now he continues to buy shares of his own company. He believes in the success of his company, so he boldly declares that just as his money was the first investment that Tesla received, so they will be the last to be withdrawn. 

The fact that investors and underwriters quickly bought up Tesla shares underlines the growing confidence in the long-term prospects of the company. Investors were pleased with the high deliveries of the Tesla Model 3 and the launch of Model Y, which is ahead of schedule. In addition, Tesla built a new plant in China in less than a year, drawing attention to the company's fast pace.

Musk’s acquisition of Tesla shares for $10 million suggests that he is still ready to hold his stake for a long time - even at these higher levels.

TSLA shares are currently trading at $876.26 per share. This year, their price more than doubled, which gave the company a market capitalization of $158.9 billion and made it the second most valuable car manufacturer in the world.




Also in Tesmanian Blog

Tesla filed a patent 'Packaged device having embedded array of components'
Tesla filed a patent 'Packaged device having embedded array of components'

by Eva Fox July 11, 2020 0 Comments

Tesla's patent 'Packaged device having embedded array of components' relates generally to electronics, and more specifically to the structure of packaged integrated circuits. 
Read More
Elon Musk Aims To Start Giga Berlin With 10,500 Employees, Shows Confidence Of The Company’s Development In Europe
Elon Musk Aims To Start Giga Berlin With 10,500 Employees, Shows Confidence Of The Company’s Development In Europe

by Eva Fox July 11, 2020 0 Comments

Tesla's main Fremont factory, which produces Model S, 3, X, and Y for the world, employs 10,000 people. At the same time, the company's European factory seeks to hire the same number of employees, which is a strong signal of trust.
Read More
Tesla-TSLA-Hiro-Mizuno-Elon-Musk-Warren-Buffet
Tesla (TSLA) Board Member Hiro Mizuno: “Who, Elon or Warren, has more money doesn’t really matter”

by Ma. Claribelle Deveza July 11, 2020 0 Comments

Hiro Mizuno, the newest member of the Tesla (TSLA) Board, had a few words to share after Elon Musk's estimated fortune surpassed Berkshire Hathway's Warren Buffett. 
Read More

Previous  / Next