Tesla CEO Elon Musk is trying to buy Twitter and manage multiple companies at the same time.
James Glover II | Reuters
Billionaire Leo Koguan, who claims to be the third-largest individual shareholder of Tesla stock, is calling on the carmaker to announce a $15 billion stock buyback as the company’s share price continues to fall.
In a tweet to Martin Viecha, Tesla’s senior director of investor relations, Koguan said the company should immediately announce it plans to buy back $5 billion of Tesla shares this year and $10 billion next year. He added that Tesla should use its free cashflow to fund the buyback and that it shouldn’t affect its existing $18 billion cash reserves.
In a follow up…