You are currently viewing Elon Musk Now Owns 18.5% Of Tesla After Valentine’s Day Shares Purchase
Elon Musk, chief executive officer of Tesla Inc., speaks during an event at the site of the company's manufacturing facility in Shanghai, China, on Monday, Jan. 7, 2019. After four years of planning, Tesla finally broke ground on its planned $5 billion factory in the world's biggest auto market. Photographer: Qilai Shen/Bloomberg via Getty Images

Elon Musk Now Owns 18.5% Of Tesla After Valentine’s Day Shares Purchase

Bloomberg reports that Elon Musk bought a total of 13,037 Tesla Inc. shares for $10 million on Feb. 14 as a filing with the U.S. Securities and Exchange Commission revealed. This gives him more grounds in the company.


With this new purchase, the Tesla boss owns about 34.1 million or 18.5% of the company. While he had bought the shares at an average of $767 each, reports claim that the shares have increased in price since after 14th February 2020.


As of Wednesday 19th February 2020, the Bloomberg report further revealed that Tesla’s share closed at a record high of $917.42. Also, Tesla has been on an unprecedented and astronomical rise since the turn of the decade.


In 2020, Tesla has become more valuable than many other car companies in the world. In fact, its market value is greater than that of General Motors Co., Volkswagen AG and Fiat Chrysler Automobiles NV combined.

Also read:
-Billionaire Wars: Elon Musk Says Bill Gates Is Underwhelming
-US Diplomat Says EU Have No Reason To Use Huawei’s 5G Technology
-Tech Thursday Throwback: The First Instagram Photos Ever Posted

While things are going great for the company, it may be in for some huge challange posed by the rampaging coronavirus named COVID-19. Earlier this year, Tesla had announced the first set of Model 3 cars made at its Shanghai Factory called the Gigafactory 3.


The company estimated that the factory will be able to push out 250,000 electric vehicles annually. It was also to be responsible for the Tesla Model Y production.


However, these plans had been nipped in the bud following the virus’ spread. It had led to factories closing down as well as general stalling of trading activities. While the world looks to battle the COVID-19 back into non-existence, Tesla must find a way to fulfill their aspirations.


Elon Musk who had increased his hold in Tesla had also made headlines recently after he mentioned that there is a need to regulate Artificial Intelligence technology. He had also called out Bill Gates for choosing a Porsche Taycan over a Tesla car.


Musk is currently worth $40 billion and it would likely increase with how well his company is doing. There are also stories that SpaceX — another of his companies — will likely witness a rise in shares prices.


For your daily dose of tech, lifestyle and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at Finally, don’t forget to subscribe to our YouTube channel HERE.

Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.

Leave a Reply