Larry Ellison’s $1 Billion Tesla Bet Is Paying Off After a Wild Ride

(Bloomberg) — Larry Ellison’s faith in Tesla Inc. and his friend Elon Musk is being rewarded.The Oracle Corp. chairman bought 3 million shares of the electric-vehicle maker before joining Tesla’s board in December 2018. The stake — worth $1 billion at the time — is now worth more than $1.6 billion. The stock has surged 25% in just the first two weeks of 2020 as fourth-quarter vehicle deliveries exceeded estimates and Musk started handing over locally assembled cars to customers in China.For most of 2019, Ellison’s investment was floundering as Musk, Tesla’s chief executive officer, bounced from crisis to crisis …read more

Source:: Yahoo Finance

Get our FREE Newsletter! Discover Stocks with +1,000% Upside Potential!
Join over 100,000 investors and business leaders worldwide. Discover the Next Super Stock before the rest of the crowd.
Your privacy is our priority. Your email address will never be sold or shared with anyone else.