There is something sincerely wrong with Fiat Chrysler Automobiles’ math, although things are starting to add up for why some of its sales numbers were so inflated.
That, Ford decides to get a little less global at the expense of the small car, Hyundai pays the price for lying, and parts suppliers see doom and gloom on the horizon for the automotive industry… after the break!
The automotive and tech blogs are aflutter Saturday with news that Elon Musk has gobbled up another chunk of Tesla stock — this time at a discount.
Musk exercised and held a stock option this week that saw the multi-billionaire increase his ownership of Tesla Motors by 532,000 shares. In total, those shares are worth over $101 million as of the last closing price of $191.20/share.
Here’s where the discount comes in: Musk’s option dictated a price pegged to the share value as of Dec. 4, 2009, before the automaker went public, of $6.63/share — or just over $3.5 million.
Sounds like Elon got a stellar deal. But does any of it matter? Is owning 1/5th of Tesla a big deal?
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