Tesla does not look like a great investment right now. The competition from better and cheaper Chinese electric vehicles is savage and Elon Musk’s outspoken political views have tarnished the brand, at least among the eco-conscious liberals who first adopted it. And yet, Musk has just spent $1 billion (£733 million) of his own money on its shares. His investment only makes sense as a bet on its robotics unit – but that is still very high risk for the company’s pugnacious CEO.

No one could ever accuse Musk of not putting his money where his mouth is. While Tesla may be under more pressure than ever, yesterday he sank his own money into buying more shares to add to his existing 15 per cent stake in the company. Put alongside his $1 trillion (£733 billion) pay package, which depends on the c

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