By Priya Raghuvanshi
Copyright timesnownews
Elon Musk, the world’s richest individual and Tesla CEO, made a significant move by acquiring nearly $1 billion worth of Tesla shares through a trust on September 12, according to Bloomberg’s report citing regulatory filings. The purchase involved 2.57 million shares bought in open-market transactions at prices ranging between $372.37 and $396.54 per share, as reported by Reuters. Tesla’s stock responded positively, surging up to 7.3 per cent before regular trading hours, setting the stage to recover losses incurred earlier this year, the report added. Tesla Chair Highlights Musk’s Unique Leadership The share purchase coincided with Tesla Chair Robyn Denholm’s interview with Bloomberg News, where she praised Musk as the only person capable of steering Tesla’s future, especially as it dives deeper into AI and robotics. He is a generational leader. There aren’t any other people out there like Elon who can actually lead the company over the next decade or so, she said. “It is how he’s delivered in the past. From our perspective, actually having his creative energies in various endeavours that are outside of Tesla actually helps Tesla,” Denholm added. Denholm also discussed the company’s ambitious $1 trillion pay package proposed for Musk, which hinges on meeting aggressive targets like scaling the robotaxi business, producing 20 million electric vehicles, and substantially increasing Tesla’s market valuation. The package will be subject to a shareholder vote in November. Tesla’s Future Hinges on AI, Robotics, And New Ventures Elon Musk is betting big on Tesla’s expansion into robotics and AI, forecasting that the company could eventually derive 80 per cent of its value from the Optimus humanoid robot. Tesla is pushing forward with its robotaxi business despite a slowdown in the core EV sales across major markets globally. While Musk’s political engagements, including his involvement in the Trump administration earlier this year, have caused some consumer backlash and vandalism at Tesla showrooms, the company remains focused on its technological ambitions.
