#ElonMusk buys Tesla shares worth $1 billion! Stock surges in pre-market trading; 2.5 million shares bought 💰

Elon Musk, CEO of Tesla, recently bought 2.5 million shares worth $1 billion, as per a regulatory filing 📑. This purchase, made through a trust on September 12, led to a surge in Tesla’s stock price, which jumped up to 7.3% before regular trading started 📈, putting the stock on track to erase its year-to-date decline.

🚀 Ambitious Pay Package 🤑

This move comes just after Tesla proposed a new pay package for Musk, which, if approved by shareholders on November 6, could make him the world’s first trillion-dollar CEO 🌍💸. The plan involves granting Musk 12% of Tesla’s shares in 12 separate tranches, contingent on hitting performance targets 🎯 like:

Increasing vehicle production 🚗

Boosting operating profits 💹

Raising Tesla’s market value 💵

To unlock the first 1% of Tesla, Musk must elevate the company's valuation to $2 trillion—double its current worth 🏗️. Achieving the entire package would require Tesla’s market cap to reach $8.5 trillion, surpassing Nvidia as the world’s most valuable company.

📉 Challenges Ahead for Tesla 🚗

However, Tesla has faced challenges, including:

Declining sales 📉

Backlash over Musk's political ties 🇺🇸

Increasing competition from US and Chinese automakers 🚙

Despite this, investors are hopeful as Musk's new pay structure ties his compensation directly to Tesla's success. The shareholder vote on November 6 will determine if Musk can begin collecting shares under this ambitious plan 🎟️.

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