tesla ceo elon musk is trying to buy twitter and manage multiple companies at the same time billionaire leo koguan who claims to be the third largest individual shareholder of tesla stock is calling on the carmaker to announce a 15 billion stock buyback as the companys share price continues to fall in a tweet to martin viecha teslas senior director of investor relations koguan said the company should immediately announce that it plans to buy back 5 billion of tesla shares this year and 10 billion next year he added that tesla should use its free cashflow to fund the buyback and that it shouldnt effect its existing 18 billion cash reserves tesla did not immediately respond to a cnbc request for comment tesla shares closed down more than 6 wednesday amid a broad market selloff the companys stock is down more than 30 this year a stock buyback when a public company uses cash to buy shares of its own on the open market is a method that firms use to try to return capital to shareholders buybacks climbed to a record high of 850 billion in 2021 during the year apple repurchased more of its own stock than any other public company followed by alphabet and then meta alphabet announced another 70 billion buyback last month koguan bet the house on tesla early on in the coronavirus pandemic according to a forbes report from october that said he had made billions by going long on the electric vehicle maker koguan reportedly went all in on tesla after selling his shares in other companies like baidu nvidia china mobile and nio i regarded myself as elons fanboy koguan reportedly said i would say he is the only person i really respect on earth