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Tesla board member Larry Ellison will buy up to $1 million in offering

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Larry Ellison, co-founder and chairman of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on October 3, 2017.

David Paul Morris | Bloomberg | Getty Images

Billionaire Larry Ellison’s promise to buy up to $1 million in Tesla’s new $2 billion common stock offering amounts to “pocket change” for the Tesla board member in what is essentially a publicity move, according to one researcher.

“The $1 million buy is a token purchase for him,” said Ben Silverman, director of research at InsiderScore. “There’s few people in the world you could say $1 million is literally pocket change, and Ellison would be one of those.”

Ellison, who founded Oracle, has a net worth of…



Source cnbc.com

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