Sunita Somvanshi
Elon Musk just bought a mountain of Tesla shares, and the stock market loved it.
The Tesla CEO scooped up 2.57 million shares last Thursday (September 12) for about $1 billion, according to paperwork filed with the SEC on September 15. He paid between $371.38 and $396.54 per share.
Tesla stock jumped over 7% before the market opened Monday, approaching $420 – a price it hasn’t seen since January 2025. This morning surge moved the stock into positive territory year-to-date.
Musk hasn’t bought Tesla shares on the open market since February 2020. This purchase increases his ownership to approximately 413.4 million shares, roughly 13% of the company based on Tesla’s most recent filings.
The billion-dollar buy happens just weeks before Tesla’s November 6 shareholder meeting. Investors will vote on Musk’s potential $1 trillion pay package that day.
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Wedbush analyst Dan Ives called the purchase a strong sign of confidence in Tesla’s trajectory. The purchase comes during a tough stretch for Tesla. The company has struggled with sales all year while rivals keep gaining ground.
China’s electric vehicle market showed strength with retail sales up about 17% year-over-year in August 2025, according to China Passenger Car Association data. Meanwhile, American carmakers GM and Ford continue to invest in EVs, even while reprioritizing or adjusting some programs.
Congress enacted changes to EV tax credits in July, and the IRS issued updated guidance that affects which configurations and models qualify; some Tesla configurations may now be treated differently under the updated rules.
The SEC paperwork shows Musk made the purchase through his Revocable Trust, which handles many of his financial moves.
Shareholders will gather November 6 for that important vote on Musk’s pay. Big proxy advisory firms like ISS and Glass Lewis will likely share their voting recommendations in the weeks after the definitive proxy is filed.
Elon Musk purchased 2.57 million Tesla shares on September 12, 2025, at prices between $371.38 and $396.54, totaling about $1 billion, according to an SEC filing. The purchase pushed Tesla’s stock up by over 7% in premarket trading. Musk now owns roughly 413.4 million shares, approximately 13% of Tesla. The company faces ongoing competition and recently updated EV tax credit rules.
