Tesla’s stock is up as Elon Musk purchases over 2.5 million shares worth $1 billion. Shares rise over 7% in premarket trading. Musk’s confidence in the company is shown through the purchase, as he aims for aggressive targets to potentially become the world’s first trillionaire.

Tesla proposed a pay package for Musk that could make him the first trillion-dollar executive. The package includes shares worth up to 12% of the company if certain performance targets are met. Musk must double the company’s value to $2 trillion to receive his first package of shares.

Despite facing sales decline and competition, Tesla’s future remains uncertain. Musk’s affiliation with President Trump and increased competition have impacted sales. Concerns rise among investors as Musk’s involvement in Washington raises questions about the company’s direction.

Tesla investors are wary of the company’s trajectory as Musk’s political involvement grows. The upcoming annual shareholders meeting on Nov. 6 will include a vote on Musk’s new pay package. The package’s extreme targets and Musk’s political affiliations have raised concerns among investors.

Read more at Yahoo Finance: Tesla’s stock is rising in premarket trading as Musk buys more than 2.5M shares worth about $1B