Musk fan billionaire is pushing for a $ 15 billion share buyback


In a tweet sent to Martin Viecha, Tesla’s senior director of investor relations, Koguan said formulatedthat the company should immediately announce that it plans to buy back $ 5 billion worth of Tesla shares this year and $ 10 billion next year. He added that Tesla would have to use its free cash flow to fund the repurchase so it would not affect its existing $ 18 billion cash reserves.

In another tweet, Koguan added that Tesla’s free cash flow was $ 2.2 billion in the first quarter of the year – expected to rise to $ 8 billion this year and up to $ 17 billion next year, according to the billionaire.

I see myself as a fan of Elon

Koguan reportedly said earlier. “I would say he is the only person I really respect on Earth“.

The company’s stock closed yesterday at 6.8 percent amid widespread market sales, while so far this year, the stock has fallen 32.8 percent.

Cover image: Getty Images


Source: Portfolio.hu – Befektetés by www.portfolio.hu.

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