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Offbeat Elon Musk just bought an additional $25 million in Tesla stock

23:50  13 june  2018
23:50  13 june  2018 Source:   cnbc.com

Big Tesla investors look like firewall for Elon Musk

  Big Tesla investors look like firewall for Elon Musk <p>Tesla Inc Chief Executive Elon Musk faces votes at Tuesday's shareholder meeting that will challenge his grip on the electric carmaker, but he may be able to count on some powerful friends: big fund managers likely to be fans.</p>These stockpickers would have weighed Musk's forceful public persona in their decisions to buy and hold Tesla shares in the first place, and likely are ready to back him at the meeting to be held in Mountain View, California, said analysts, corporate governance experts and investors.

Just a few days after Elon Musk took to Twitter and said that Tesla bears should prepare for the “short burn of the century,” the Tesla CEO put According to a Form 4 filing with the SEC, Musk on Monday acquired .85 million worth of Tesla stock , thus bringing his total stake in the company to about 20%.

Tesla CEO Elon Musk will personally purchase $ 25 million in Tesla common stock as a part of the deal. The convertible notes will change into cash or shares of Tesla stock (at the company’s election) in 2022, with interest rates and other terms to be determined.

Elon Musk just made another big bet on himself.

Over the past two days, Musk has bought 72,500 shares in Tesla, when shares were trading at $342-$347, according to an SEC filing. The total purchase is worth about $24.9 million.

Tesla has an abundance of skeptics, but Musk has continued to fork over cash for shares in the electric car maker. Back in early May, Musk bought 33,000 Tesla shares, then worth about $10 million. Shares were trading just below $300 at that point.

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Elon Musk buys million worth of Tesla stocks (TSLA) just as he predicts a short squeeze. Elon Musk has been vocal about Tesla ’s stock lately and he has even been warning people who are betting against the company on the stock market that they are about to get ‘burn’. …

Elon Musk has been vocal about Tesla ’s stock lately and he has even been warning people who are betting against the company on the stock market that they are about to get ‘burn’. Coincidently (or not), the CEO bought million worth of Tesla stocks , today. Home Solar Power.

Musk is Tesla's largest shareholder. He now owns about 33.7 million shares of Tesla, a roughly 19 percent slice of all outstanding shares.

Musk made his purchases shortly after Tesla said it will cut about 9 percent of its workforce of 46,000 employees, in salaried roles outside vehicle production. The company is trying to improve efficiency and profitability as it continues the continually delayed and often struggling production ramp of its Model 3 sedan.

The company is still burning through billions in cash, and has faced challenges on several fronts, including labor disputes, a number of executive departures, and investigations into the role is Autopilot driver assistance system has played in some high-profile crashes.

Tesla reports another fire at Fremont factory .
The fire was contained to a cardboard bailing machine and there were no injuries, according to the Fremont Fire Department.Tesla confirmed that a fire contained to a cardboard bailing machine Thursday night at its Fremont, Calif., factory, where the Model 3 electric sedan is being built. It is the latest in a series of fires to break out at the facility.

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