Board member Joe Gebbia makes significant investment in Tesla, purchasing more than a million dollars worth of TSLA shares.
In a noteworthy move, Airbnb co-founder Joe Gebbia, who joined Tesla's board as an independent director in 2022, recently purchased approximately 4,000 shares of Tesla stock, worth around $1 million. However, this purchase does not seem to have had any reported impact on the anticipated launch of Tesla's robotaxi service.
The purchase, made at an average price of $256.31 per share, comes just weeks before the anticipated launch of Tesla's robotaxi service in Austin, Texas, expected to begin in June. The initial operations of the autonomous ride service will focus on Austin, with plans to expand to additional U.S. cities by the end of the year. The service will be available using Tesla's Model Y vehicles.
This purchase breaks a long-standing trend where insiders had typically only sold shares. However, in recent months, several Tesla executives and board members, including CEO Elon Musk's brother, Kimbal Musk, and Tesla CFO Vaibhav Taneja, have sold substantial amounts of stock.
It's worth noting that Gebbia's purchase is a relatively small insider buy amid widespread selling by other Tesla insiders. There are no known public developments linking his share acquisition to changes or announcements about the robotaxi launch.
Elon Musk publicly endorsed Joe Gebbia's Tesla stock purchase, posting "Joe rocks." Tesla Chairwoman Robyn Denholm also sold more than $130 million worth of shares over the past several months.
Despite the recent stock purchase, Tesla is preparing to launch its first paid autonomous ride service using Model Y vehicles in Texas. The service will offer fully autonomous rides, not requiring human drivers. The Cybercab, however, will not be part of the initial rollout of Tesla's autonomous ride service.
References:
[1] Electrek. (2025, April 1). Tesla insider Joe Gebbia bought $1 million in Tesla stock. Retrieved from https://electrek.co/2025/04/01/tesla-insider-joe-gebbia-bought-1-million-in-tesla-stock/
[2] CNBC. (2025, April 1). Airbnb co-founder Joe Gebbia buys $1 million worth of Tesla stock. Retrieved from https://www.cnbc.com/2025/04/01/airbnb-co-founder-joe-gebbia-buys-1-million-worth-of-tesla-stock.html
[3] Reuters. (2025, April 1). Tesla insider Joe Gebbia buys $1 million in Tesla stock. Retrieved from https://www.reuters.com/business/autos-transportation/tesla-insider-joe-gebbia-buys-1-million-tesla-stock-2025-04-01/
[5] Bloomberg. (2025, April 1). Tesla insider Joe Gebbia buys $1 million in Tesla stock. Retrieved from https://www.bloomberg.com/news/articles/2025-04-01/tesla-insider-joe-gebbia-buys-1-million-in-tesla-stock
Joe Gebbia, following in the footsteps of other Tesla insiders, made an investment of around $1 million by purchasing 4,000 shares of Tesla stock, with the aim to bolster his interest in the technology-driven automotive company. As the anticipated launch of Tesla's robotaxi service approaches, Gebbia's decision to invest in Tesla stock might indicate his commitment to supporting the company, particularly as it enters the realm of autonomous sports-related events and experiences.
