Ellison Confirms $1 Billion Stake in Tesla

January 08, 2019 at 6:02 PM

Oracle Corp. co-founder Larry Ellison, who was named to Tesla Inc.’s board at the end of December, formally confirmed today that he has accumulated a $1 billion stake in the electric-car company.

Ellison said in October that he had become Tesla’s second-largest shareholder after his friend CEO Elon Musk. When Tesla announced his appointment on Dec. 28, it stated that Ellison had acquired 3 million shares in the company in 2018.

Ellison’s investment was formally recognized in a filing with the U.S. Securities and Exchange Commission. Tesla shares closed at $335 per share today.