Elon Musk sold another $1 billion worth of Tesla shares on Tuesday

On May 17, 2021, SpaceX founder and Tesla CEO Elon Musk visited the construction site of the Tesla Super Factory in Grünheide near Berlin, Germany.

Michelle Tantucci | Reuters

Tesla According to reports, CEO Elon Musk sold about $1.05 billion in stock on Tuesday night. Financial documents Released this week. The sale is planned in September to exercise options that will expire in 2022.

Musk sold a total of $9.85 billion in Tesla stock this month, including $6.9 billion he sold in the week of November 10 and another 19 he sold on November 15 and November 16. One hundred million U.S. dollars. Part of the stock was partially sold to fulfill tax obligations related to the exercise of stock options.

Musk and his trust still hold more than 169 million shares in the company.

Tesla shares fell 15.4% last week, This was the worst week for Tesla stock in the 20 months since Musk started selling the stock. On Wednesday afternoon, Tesla shares rose about 1%.

Musk ran away Informal Twitter polls On November 6, he asked his over 60 million Twitter followers whether he should sell 10% of Tesla stock. The poll ended with the user telling Musk to sell.

However, Musk said earlier this year that he might sell a “large block” of options in the fourth quarter.period Appeared at the code meeting In September, he said that when his Tesla stock options expire, his marginal tax rate will exceed 50%.

CNBC’s Lora Kolodny contributed to this report.

Subscribe to CNBC on YouTube.


Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *