Elon Musk, the CEO of Tesla, has just made a huge purchase. He invested $1 billion to buy more Tesla stock, which are shares of ownership in the company. This action shows he has strong confidence in the future of his company.
This purchase happened at an interesting time. The company's board of directors currently defends a new payment plan for Musk. This plan is very large and has caused some discussion. They are explaining why they think he deserves it.
The payment plan is not simple. It is connected to performance goals. This means Elon Musk will only receive the money if he achieves very difficult targets for the company. These targets include making the company much more valuable.
By buying so much stock, Musk is sending a clear message. He believes he can meet these challenging goals. His investment suggests to others that he is fully committed to Tesla's long-term success, especially as it works on new technology like artificial intelligence.