Daily Management Review

One of Tesla's biggest investors calls for Tesla share buyback


Billionaire Leo KoGuan, one of Tesla's largest private investors, has demanded that the company purchase back its assets from shareholders to compensate them for the share price drop caused by Elon Musk's Twitter transaction. He sent his recommendation to Tesla's head of investor relations, Martin Viecha, on Twitter, along with the phrase "Agree!"

Ivan Radic
Ivan Radic
"Tesla should announce and repurchase $5 billion in shares this year and $10 billion next year, without hurting existing cash reserves of $18 billion and 0% debt," KoGuan replied to Viecha's post. According to Reuters, the head of investor relations was unavailable for comment.

The investor stated in March that he was buying more shares than it was selling amid the company's fall. KoGuan stated in 2021 that he was investing billions of dollars in Tesla because he shared Musk's "great objective."

Last year, the billionaire became Tesla's third-largest private equity investor, with investments dating back to 2019. By the end of 2021, the investor claimed to have profited $7 billion on Musk's stock. KoGuan is ranked 474th in Forbes' global list of billionaires, with a worth of $5.3 billion as of May 19.

source: forbes.com