Talk about the ultimate faith in your company.
We all know that Tesla stock is constantly on the up and down, so much so that it's crazy. I told my wife if we could have grabbed up some Tesla stock a week or so ago and then sold it this week, we'd be in a better financial situation to pay our bills and raise or kids. But, sadly, at InsideEVs, we can't play the stock or referral game. Not only this, but none of our writers are allowed to own any automotive stock, whatsoever. Take it or leave it, but that's the way we roll.
While we don't cover or pay much attention to stock values, Tesla CEO Elon Musk has beat the usual odds, buying another $10 million in Tesla stock ($9,997,261.10 to be exact, and yes he's still technically listed as CEO).
In addition, the famous CEO has already revealed that he plans to purchase another $20 million in Tesla stock soon. This effort can only be seen as a way to attempt to curtail the $20 million debt to Tesla incurred by the SEC.
Does a traditional CEO generally rely on his/her own company's stock to make bank? No.
Does a traditional CEO hold much more company stock than all others? No.
Our list of questions and answers here could go on and on and on. But the point is, despite the continual mess, lawsuits, settlements, stock turbulence, shorter efforts, etc., Tesla CEO Elon Musk continues to put his financial eggs back in the basket and buy even more Tesla stock ... as if he doesn't own enough of the company already. Yes, we will say that his track record for seeming just a wee bit crazy is true, but what world-changing intellectual doesn't carry such baggage? Incredibly intelligent people are often outlandish and unique. In the end, the fact that Musk is still buying more and more Tesla stock forecasts additional successes that are yet to come.
All in good time though, right? Tesla has to deliver globally on all these Tesla Model 3 reservations before it can move forward full-tilt on the Model Y, pickup truck, and semi. However, this is surely not a bad problem to have. There's nothing quite like incredible support and demand. Wow, wow, wow, for EV adoption as a whole.
Source: Tesla Investor Relations