Elon Musk buys 1 billion in Tesla shares from Open Market for $ 1 billion

Tesla Inc Chief Executive Officer Elon Musk has bought the shares of the company worth $ 1 billion from the Open Markt. He bought shares on Friday in several tranches and at different price points, according to a legal submission of the American electric car maker.

It was his first purchase of the share on the Open Markt since February 2020 and Musk bought around 2.57 million shares.

Tesla -shares fluctuated around $ 417.95 around 7:04 am et (4:30 PM India Time) and they were closed on Friday at $ 395.94 each.

Tesla shares have been in top promotion for a period of 1 year and won by 75%.

The company was in News earlier this month, because it would ask the shareholders to approve a new wage package for Musk that could be worth up to $ 975 billion on the basis of various ambitious milestones.

In addition, a Class Action law case against the company was brought against the company on behalf of investors who have lost money as a result of alleged securities fraud between 19 April 2023 and 22 June 2025.Tesla is an American public company that designs, manufactures and sell electric vehicles (EVs) and clean energy products such as solar panels and battery storage. It was founded in 2003 and is named after inventor Nikola Tesla. (Disclaimer: recommendations, suggestions, views and opinions that the experts give are own. These do not represent the views of economic times)