Ellison purchased 3 million Tesla shares before joining Tesla’s board in December 2018.
Editor’s note: This article comes from Tencent Technology .
According to foreign media reports, Larry Ellison’s confidence in Tesla and its friend Elon Musk has been generously rewarded.
The Oracle company founder and chairman bought 3 million shares of the electric car manufacturing company before joining Tesla’s board in December 2018. These shares were worth $ 1 billion at the time and are now worth more than $ 1.6 billion. In other words, in about a year, Ellison made 600 million dollars.
In the two weeks since 2020 alone, the stock has soared 25% as Tesla delivered more vehicles than expected in the fourth quarter of 2019, and Musk began delivering Chinese-made products to Chinese customers. electric car.
Most of 2019, Ellison’s investment is in danger, as Tesla CEO Musk has plunged from crisis to crisis and Wall Street has begun consumer demand Be skeptical. On the day the Tesla shares held by Ellison and his appointment to Tesla’s board of directors were disclosed, the stock closed at $ 333.87. By June 2019, the stock had fallen to a low of $ 176.99.
Tuesday’s closing, the stock rose 2.49% to 537.92 US dollars, and once again set a record high.
This rally brings Tesla closer to a market value of $ 100 billion. This threshold will unlock the first batch of stock options for Musk’s all-or-nothing package in March 2018. The company will have to maintain that value for several months before the CEO can get a reward worth about $ 346 million.
At least one investor is not happy now. According to reports, the Saudi Arabian sovereign wealth fund reached an agreement with JP Morgan Chase last January to hedge most of its 5% Tesla shares. This helps protect earnings when the stock price is below about $ 350, but if hedging measures still exist, thenSaudi Arabia ’s sovereign wealth fund has missed a recent strong rally. (Tencent Technology Review / Music)