Elon Musk purchases $1 billion in Tesla stock, his first open-market purchase since 5 years

Elon Musk bought Tesla shares worth nearly $1 billion. This purchase is his first since February 2020. Following this, the company’s shares saw an increase. The purchase occurred when Tesla’s board defended Musk’s pay package. The board proposed a $1 trillion compensation plan for Musk. Pope Leo commented on the growing gap between executive pay and worker wages.