In a decision that stimulated Tesla’s shares at noon negotiation on Monday, it was revealed that CEO Elon Musk had bought around $ 1 billion in the company.
The vote of trust indicates that Musk plans to remain after a recent increase and is optimistic about the company of Robotaxi de Tesla. While EV sales are collapsing, Tesla’s future depends more and more on its autonomous technology, including autonomous taxis and its humanoid robot nicknamed Optimus.
Musk bought the actions shortly after the chairman of the board of directors of Tesla, Robyn Denholm, defended his proposed remuneration package, which would grant Musk nearly 1 Billion of shares according to the company reaching a series of ambitious performance milestones.
A delaware judge has twice canceled a preceding share of share wages worth around 56 billion dollars. In the midst of the legal battle, the board of directors of Tesla granted $ 29 billion shares of 29 billion dollars as a provisional effort to persuade it to “remain concentrated”.
Musk returned to the top of the ranking as a richest person in the world after having briefly gave pole position to the co -founder of Oracle Larry Ellison last week.
The owner of SpaceX bought the Tesla shares indirectly by a revocable trust on September 12 Friday, according to a regulatory file published on Monday. Musk, 54, bought Tesla shares on the free market for the last time in February 2020, according to data compiled by Bloomberg.
The Director General has unloaded more than $ 20 billion from the company’s shares in 2022, the year he acquired Twitter, now known as X.
Tesla sales have dropped for a large part of this year in response to the brief but controversial Musk in Washington as head of the Government Ministry. Sales of electric vehicles have also drawn a touch from the expiration of a federal tax credit in the EV that President Trump eliminated.
The COX Automotive market researcher estimated that Tesla’s share on the American electric vehicle market slipped below 40% in August. Registration also continued to hunt last month on the main markets across Europe, and vehicle shipments from the Shanghai factory in the company fell in July and August.
Musk hopes for a big boost from the emerging Robotaxi service from Tesla, who was deployed in Austin in June. The technology has been faced with several roadblocks, experts saying that it is not as sure or efficient as the technology used in Waymo autonomous cars.
Tesla made the headlines last month when a Miami jury ordered the company to pay $ 240 million to the victims of a fatal accident involving its automatic pilot mode. The case highlighted Musk’s exaggerated statements on Tesla’s autonomous technology.
According to analysts, a new version of Tesla’s complete autonomous mode should be added to its Robotaxi fleet in the coming months.
“Musk said V14 will be two to three times better than a human driver,” William Blair Jed Dorsheimer and Mark Shooter analysts wrote in a note on Monday.
The purchase by Musk of actions “sends a strong signal of trust in the most important part of Tesla’s future affairs, Robotaxi,” they wrote.
During an unveiling event for a prototype of the Tesla Cybercab Autonomous last year, Musk expressed ambitions high for the future.
He spoke of a world where each family has an Optimus robot capable of grocery, babysitting and plant watering. People can sleep in the back of their Tesla because it drives across the country. Automated workforce would make goods and services cheaper and more accessible, he said.
“It will be an age of abundance, as almost no one has considered,” Musk told the crowd at the time.
Denholm, who has been chairman of the Tesla board of directors since 2018, described Musk as a “generational leader” in an interview on Friday with Bloomberg Television. It has minimized the concerns that Musk’s political activity has harmed the performance of the company and suggested that it had broad latitude in this regard.
“What he does from a personal point of view, in terms of political motivations, depends on him,” said Denholm. “We are in a democracy, so everyone can express their views.”
Musk has a net value of around $ 419 billion, according to the Bloomberg Billionaires index.
Bloomberg contributed to this report.
