Elon Musk has reassured investors that "daddy is very much home" and "burning the midnight oil," giving a sneak peek into his grueling work regime in a recent X post. The Tesla head had previously come under fire from shareholders amid fears that he was "neglecting" the EV giant while spending considerable time playing a "special government employee" under the Trump administration. That political engagement was said to have been associated with a decline in Tesla's market performance.
Nonetheless, in his latest action, Musk reaffirmed his dedication by buying over 2.5 million Tesla shares worth approximately $1 billion, assisting in a rise in the company's stock price to $418.39 each and propelling its market capitalization to nearly $1.3 trillion.
According to a Securities and Exchange Commission (SEC) filing, Musk bought the shares indirectly via a trust on September 12. It is his first open-market purchase of Tesla common stock since February 2020, with about 2.57 million shares purchased.
Sharing further, Musk said “Fly to Colossus II on Monday to walk the whole datacenter floor, review transformers and power production (excellent progress), depart midnight.”
“Then up to 12 hours of back to back meetings across all Tesla departments, but particular focus on AI/Autopilot, Optimus production plans and vehicle production/delivery.”
He went on, "Then up to 12 hours of back-to-back meetings through all Tesla departments, but with special emphasis on AI/Autopilot, Optimus manufacturing plans and vehicle manufacturing/delivery."
Earlier today, Elon Musk shared an image of Tesla stock price, writing “TSLA up $69 to ~$420 as foretold in the prophecy”. A user reacted to Musk’s post saying “Guys…. he’s tweeting about the stock. He’s buying the stock. Daddy’s home. Tesla is back.”
Meanwhile, in connected news, Tesla's board has put forward a new $1 trillion compensation package for Musk. The plan features stringent performance targets—securing 10 million active Full Self-Driving (FSD) subscriptions and sending 1 million Tesla robotaxis onto roads.
As per the SEC filing, FSD is defined as "means an advanced driving system, regardless of the marketing name used, that is capable of performing transportation tasks that provide autonomous or similar functionality under specified driving conditions."
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