Tesla whale calls for $15B share buyback as stocks took hit from Musk's Twitter deal
Billionaire Leo KoGuan, a major individual shareholder in Tesla Inc (NASDAQ: TSLA), on Thursday called on the electric carmaker to buy back $15 billion stock after the company’s shares took a hit from CEO Elon Musk’s deal to buy Twitter Inc (NYSE: TWTR)
• KoGuan said Tesla should buyback $5 billion of Tesla shares this year and $10 billion next year
• Share buyback helps a company boost its stock price along with return some capital to shareholders
Billionaire Leo KoGuan, a major individual shareholder in Tesla Inc (NASDAQ: TSLA), on Thursday called on the electric carmaker to buy back $15 billion stock after the company’s shares took a hit from CEO Elon Musk’s deal to buy Twitter Inc (NYSE: TWTR).
In a tweet to Martin Viecha, Tesla’s head of investor relations, KoGuan wrote, “Tesla must announce immediately and buy back $5 billion of Tesla shares from its free cash flow this year and $10 billion from its free cash flow next year, without effecting its existing $18 billion cash reserves with ZERO debt.”
