Video about this issue:
Elon Musk pledged that he was going to buy $10M of $2.5B worth of shares which TSLA offered last week. Still, not that many CEOs would buy that many shares at secondary offering prices. That shows his confidence in the company and stock even at these prices.
Elon bought shares as a part of the $2B capital raise. Elon always buys when there’s a capital raise because he wants to make it clear that he will not sell to investors what he would not buy himself. Elon has consistently done this from the early seed round funding for Tesla. He did this even in the depths of the 2008 financial crisis when he went net negative on his net worth to save Tesla from bankruptcy.