Elon Musk buys up $1 billion worth of Tesla shares #tech

Elon Musk responded to an unprecedented pay proposal from Tesla Inc.’s board by buying about $1 billion worth of shares, sending the carmaker’s stock soaring into positive territory for the year. The billionaire bought the shares indirectly through a revocable trust on Sept. 12, according to a regulatory filing released Monday. The purchase coincided with Tesla Chair Robyn Denholm speaking with reporters about the merits of awarding Musk around $1 trillion worth of stock if the company achieves a series of ambitious market value and performance milestones. Bloomberg Businessweek Senior Reporter Max Chafkin joins Bloomberg Businessweek Daily to discuss.
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