Tesla share surge as Elon Musk buys $1B in stock — coming on heels of $1T compensation package

Elon Musk revealed Monday that he purchased $1 billion worth of Tesla’s stock – a major show of confidence that sent shares of the electric car maker surging 7% in early trading.The 54-year-old billionaire bought 2.57 million Tesla shares through a trust on Friday, according to a regulatory filing. If Tesla’s stock gains hold, they will push the company back into positive territory for the year despite a recent sales slump that has crushed its earnings.Musk hadn’t bought Tesla stock since 2020. REUTERSMusk’ ...