Elon Musk’s perks at Tesla under Justice Department scrutiny: report

Tesla CEO Elon Musk leaves a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023.

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Federal investigators are widening a probe of benefits Tesla Inc. TSLA, +5.93% provided to Chief Executive Elon Musk as part of a criminal investigation, according to a published report.

The Wall Street Journal reported that the Justice Department was probing personal benefits Tesla has provided the billionaire CEO since 2017, including a proposed house, citing unnamed sources close to the matter.

The new information indicates that federal prosecutors are interested in a broader investigation than reported in late August, the Journal said.

Tesla shares rose 0.5% on Tuesday, compared with a 0.2% decline on the S&P 500 index SPX, +0.81%. Tesla’s stock this year has climbed 16%.

Musk is on top of Bloomberg’s billionaires rankings, with a net worth estimated to be $244 billion.