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Elon Musk buys $1 billion in Tesla shares

Tesla co-founder and CEO Elon Musk speaks in front of the newly unveiled all-electric battery-powered Tesla's Cybertruck with shattered windows at Tesla Design Center in Hawthorne, California, on November 21, 2019.  (Photo by FREDERIC J. BROWN / AFP)

CEO Elon Musk bought about $1 billion worth of shares in Tesla, according to a regulatory filing, sending the share price up six percent on Monday.

According to the filing with the Securities and Exchange Commission, the billionaire, who also owns social media platform X and space company SpaceX, on Friday acquired 2.57 million shares at prices ranging from $371 to $396.

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