Oracle founder buys Tesla stock, earns more than $ 600 million in 1 year

Netease Technology News January 15th, according to foreign media reports, before joining Tesla’s board of directors in December 2018, Oracle company founder Larry Ellison bought the electric car manufacturer 3 million Stocks. This part of the stock was worth $ 1 billion at the time, but it is now worth more than $ 1.6 billion.

Figure: Oracle founder Larry Ellison holds 3 million Tesla shares and is now worth more than $ 1.6 billion

Just two weeks into 2020, Tesla’s stock price has soared by 25%, due to higher-than-expected vehicle deliveries in the fourth quarter of 2019 and Musk’s start to deliver locally assembled cars to Chinese customers.

For most of 2019, Ellison’s investment has been on the alert level, as Tesla CEO Elon Musk has gone through countless crises, and Wall Street analysts have spoken to Tesla. Demand for cars is skeptical.

Ellison’s shareholding and news of his appointment as a member of Tesla’s board of directors were announced on the day the share closed at $ 333.87. By June 2019, Tesla’s stock price had fallen to a low of $ 176.99. But on Tuesday, local time in the United States, the stock rose 4.3% at the beginning of the trading session. It rose to a new high of $ 547.41 during the session and finally closed at $ 537.92.

This rebound in stock prices brought Tesla’s market value to $ 96.957 billion, close to the $ 100 billion mark, and is expected to open the door to Musk’s huge salary. According to the compensation plan approved by Tesla’s board of directors in March 2018, when Tesla’s market value reaches $ 100 billion, revenue exceeds $ 20 billion, and profits reach $ 1.5 billion, Musk can receive an initial value of nearly $ 1 billion. Stock award.

Musk may be very happy about this. As of Monday, local time, his wealth had increased by $ 3.9 billion this month, and his net worth had increased to $ 31.5 billion. According to the Bloomberg billionaire index, Musk ranks 28th on the global rich list. 

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