Tesla jumps after Elon Musk discloses buying 2.57 million shares, worth more than $1 billion

Tesla soared in early trading on Monday after CEO Elon Musk disclosed a purchase of 2.57 million shares in the company, according to a new SEC filing.

Per the filing, the “Elon Musk Revocable Trust,” for which the Tesla and SpaceX chief is the trustee, reported acquiring 2.57 million shares, taking its total ownership to 413.36 million shares as of September 12, 2025. The block of equity was bought at prices ranging from $371.38 to $396.54.

Investors are interpreting Musk’s latest purchase — his first significant one since February 2020 — as a vote of confidence in the company. Tesla shares are now trading above their December 31 closing price, making the stock positive for the year.

Earlier this month, the board of directors proposed an eye-watering pay package that could award the tech billionaire up to $1 trillion, assuming that very ambitious market cap and fundamental milestones are met.