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International Business Times UK
International Business Times UK
Mark R

Elon Musk's $1bn (£785m) Tesla Share Buy: Investor Confidence or PR Stunt?

Elon Musk United States Danni Hewson Tesla Inc.
Elon Musk. (Credit: Wikimedia Commons)

Elon Musk has bought about $1 billion (£785 million) worth of Tesla shares, his first open-market purchase in more than five years.

The move, revealed in a regulatory filing, triggered a sharp rise in Tesla's stock, with shares climbing more than 7% in pre-market trading and boosting the wider S&P 500.

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