Austin, Sept. 16 -- Billionaire entrepreneur and Tesla CEO Elon Musk has bought up roughly USD one billion worth of Tesla shares, in what is being seen as a vote of confidence in the electric car maker.
Shares in Tesla, which have struggled to advance this year, jumped more than 6% in early trading on Monday on the news, reports BBC.
The company's board recently proposed a compensation plan valued at roughly USD one trillion dollars, which would grant Musk up to 12% of the firm's shares if the company reaches certain targets.
The board further announced that it would grant him USD 29 bn worth of shares last month as a separate "interim" award, after a larger pay packageagreed in 2018 was struck down in a court battle.
The proposals foll...