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Elon Musk bought $25 million worth of Tesla stock, just a day after laying off 9% of Tesla employees (TSLA)

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Elon Musk bought about $25 million worth of Tesla stock this week.
His purchases come after Musk announced to Tesla employees that the company was cutting 9% of its workforce. 
It could be a signal to employees and Wall Street that he’s still optimistic about the future of Tesla.

Tesla Motors CEO Elon Musk has personally purchased about $25 million worth of stock in his own company, according to a filing with the SEC on Wednesday.

Before these purchases, Musk owned about 19.8% of the company, reports Marketwatch. With the 72,500 shares he bought this week, he owns about 34 million Tesla shares.See the rest of the story at Business Insider

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SEE ALSO: Elon Musk’s new Tesla pay package could make him $55.8 billion — and it’s a case study in what’s wrong with executive compensation


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