Alp Ercil is closing his $3 billion flagship hedge fund after a money-making 14-year run, and will convert his firm into a ...

The insurance company expects to return an extra $1.24 billion to shareholders via buybacks upon completion of the sale.

Though Tesla’s shares doubled over the past 12 months, they’ve had a tough run since the inauguration. Investors are waiting to see if Elon Musk can keep the company’s charmed run going.