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Why Elon Musk bought $1B of Tesla stock

Elon Musk's new robot demo has the internet talking- and it's not good

Elon Musk purchased nearly $1 billion worth of Tesla stock, acquiring over 2.5 million shares, which led to an over eight per cent jump in the company's pre-market trading.
This move demonstrates Musk's commitment to Tesla ahead of a crucial November shareholder vote on a proposed compensation plan that could award him up to $1 trillion in stock.
Musk's stake in the electric vehicle maker is now approximately 20 per cent, valued at around $250 billion, as he seeks greater control and increased voting power.
The purchase follows a turbulent period for Tesla, marked by public backlash over Musk's political involvement and significant drops in company profits, though the board chair dismissed concerns about sales impact.
Musk has previously threatened to develop AI and robotics outside of Tesla if he does not achieve 25 per cent voting power, as the company aims to transition into a broader tech leader.