In Short:
– Tesla shares rose over 8% after Elon Musk bought $1 billion worth of stock, his first purchase since 2020.
– Musk’s new pay proposal could potentially make him the world’s first trillionaire amid criticism over wealth inequality.

Tesla’s stock rose over 8% in premarket trading after CEO Elon Musk revealed he purchased approximately $1 billion worth of shares, marking his first open-market acquisition since 2020.

The transaction follows a proposal from Tesla’s board for an unprecedented compensation package that could potentially make Musk the world’s first trillionaire if significant goals are achieved in the coming decade.According to an SEC filing, Musk acquired 2.57 million shares at prices ranging from $372.37 to $396.54. This is his largest insider acquisition to date, following a purchase of around 200,000 shares valued at £10 million in February 2020.

The rise in Tesla shares comes amid increasing scrutiny of Musk’s proposed pay package, which could award him 12% of the company’s shares if Tesla’s market value reaches $8.5 trillion.

Despite the ambitious nature of the proposal, it has faced criticism over wealth inequality, with some questioning the implications of such extreme financial incentives.

Musk’s Wealth

The proposal has attracted criticism, including from Pope Leo XIV, who cited Musk as an example in discussions about wealth disparities.

While Tesla is navigating challenges such as declining vehicle deliveries and rising competition, the company’s energy division is expanding, adding further complexity to its market position.

In Short:
– Apple has introduced the new iPhone Air, priced at £999, to attract customers and update its smartphone line.
– The Air features innovations like a battery accessory, while Apple faces competition in AI capabilities.

Apple has launched a new “iPhone Air” model, marking its first significant smartphone release in years.

The new device, priced at $999, aims to attract customers following difficulties in delivering AI features.

This model replaces the Plus line and initiates a refresh since the iPhone X.

The iPhone Air is designed to pave the way for a potential foldable iPhone next year, indicating Apple’s commitment to creating thinner devices. Analysts highlight challenges with foldable technology, expressing optimism about Apple’s advancements.

The iPhone 17’s base price remains at $799, with the cheapest Pro model starting at $1,099.

Tariffs will be avoided as Apple sources most iPhones from India. The company introduced a battery accessory to enhance the Air’s life, although it adds bulk.

Design Innovations

Apple has also introduced new AirPods Pro featuring a heart monitor and an Apple Watch that can detect high blood pressure.

However, the company faces criticism for lagging AI capabilities compared to competitors like Google. Investor sentiment remains positive following a strong sales quarter and positive developments regarding trade tariffs.

Futurum Group CEO Daniel Newman said that the iPhone 17 launch comes at a “really tough” moment for Apple.

“The problem with Apple is that everything that’s showing up today is, in fact, pretty incremental,” he told CNBC’s “Power Lunch.” “Yes, the phone is thinner, and yes, it looks great. We haven’t had a big supercycle in four years.”

Other devices

The new AirPods Pro 3 boast improved audio quality and noise cancellation. A new feature is real-time translation of conversations in foreign languages. They cost $249, the same as their predecessor.

Apple released three new Apple Watch models: the Series 11, which includes updates to the low-end SE and high-end Ultra models. Prices remain unchanged. Apple has added a new health feature to the devices, using machine learning to assess the risk of high blood pressure.

Apple’s iOS 26 will be available as a free software update on Monday.

AirPods Pro 3, the new Apple Watch lineup, iPhone 17, iPhone 17 Pro, and the all-new iPhone Air—here’s everything we just announced! pic.twitter.com/EDPNjpoUW8

— Tim Cook (@tim_cook) September 9, 2025

Apple shares down after event concludes