India, Sept. 15 -- Elon Musk has purchased $1 billion worth of Tesla Inc. shares, days after the electric carmaker's board proposed a trillion-dollar salary for him.

Shares jumped 6% in early trading on Monday after Tesla's chief executive officer disclosed the purchase, in what can be seen as a vote of confidence for the company's future. He purchased 2.57 million shares on Friday, paying between $372.37 and $396.54 apiece, according to a regulatory filing.

The move is "the clearest signal yet that (Musk is) slamming the accelerator on being all in again.the Tesla-Musk narrative looks firmly back on track after a shaky start to the year," Matt Britzman, senior equity analyst at Hargreaves Lansdown, told Reuters.

The stock purchase-Mus...