Elon Musk Buys $1 Billion in Tesla Stock as Board Defends His Pay

Elon Musk, the CEO of Tesla, has bought $1 billion worth of the company's stock. This comes after Tesla's board proposed a compensation plan that could potentially pay Musk nearly $1 trillion if he meets certain performance targets. The board has defended Musk's pay, stating that it is designed to incentivize him to achieve remarkable results and drive the company's growth. The proposed plan includes milestones related to Tesla's market capitalization, revenue, and profitability. Musk's latest stock purchase is seen as a show of confidence in the company's future and his commitment to its success. The move also aligns Musk's interests with those of Tesla's shareholders, as he will now have an even greater stake in the company's performance. The news has generated significant attention, as Musk's compensation plan and his personal investment in Tesla continue to be closely watched by investors, analysts, and the public.