Tesla: stock jumps after Larry Ellison confirms stake

(CercleFinance.com) - The share price of Tesla jumped over 2% on Tuesday after software mogul and billionaire Larry Ellison disclosed a one billion dollar stake in the electric car maker.


The founder of enterprise software giant Oracle now owns 3 million shares in the Californian car maker, according to a regulatory filing.

The Tesla stock rose 2.1% to 341.9 dollars on this news, valuing the company at around 59 billion dollars.

Larry Ellison - who is Oracle's current chief technology officer - was named as an independent director on Tesla's board at the end of 2018 .

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