The susceptibility ofTmTeincreases continuously between 18 and 29 kbar at room temperature, while at helium temperature it increases between 29 and 39 kbar and flattens out above, indicating the existence of three separate electronic phases. The increase of the magnetization is unhysteretic and smaller than expected for a full transformation from Tm2+to Tm3+at all temperatures and pressures. The low temperature magnetization curves in the high pressure phases are very non‐linear.