Tesla’s stock is climbing Monday as CEO Elon Musk disclosed the purchase of more than 2.5 million shares worth approximately $1 billion.

Shares of the electric vehicle maker rose more than 5% in morning trading.

Musk purchased various amounts of shares at different prices on Friday, according to a regulatory filing. The move may be viewed by the markets as the billionaire remaining confident in the company’s future.

Earlier this month Tesla released a proposed pay package for Musk that would possibly make him the world’s first trillionaire if he hits a series of extremely aggressive targets for the company over the next decade.

Tesla said in a regulatory filing that it will hand Musk shares worth as much as 12% of the company in a dozen separate packages if the company meets certain pe

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