Tesla chief executive Elon Musk bought about $1bn of the electric-vehicle maker’s shares last week, according to a filing, sending the stock up more than 8 per cent in pre-market trading on Monday.
Musk bought around 2.57mn shares at prices between $371 and $396, according to the regulatory filing on Monday.
The purchases came as Tesla chair Robyn Denholm defended the board’s decision to offer Musk a $1tn pay package if he met a series of formidable targets over the next decade.
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