1754 ET - Elon Musk boosts his stake in Tesla with the purchase of 304 million shares in the electric car maker this week, according to a Securities and Exchange Commission filing. Musk exercised options to buy the shares at a price of $23.34 each on Tuesday, at a total cost of $7.1 billion. That same day Musk surrendered 17.5 million shares at a price of $404.66 each, also raising a total of $7.1 billion from the move. Shares are surrendered to pay taxes, cover the cost of an option exercise or vesting, according to the Form 4 filing. The moves resulted in Musk boosting his stake in Tesla by 286.4 million shares. He now has direct ownership of about 710 million shares, and indirect ownership of another 413.1 million shares, in Tesla. (adam.cataldo@wsj.com)
(END) Dow Jones Newswires
June 17, 2026 17:54 ET (21:54 GMT)
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