Elon Musk sells $963 million of Tesla stock

Elon Musk sells $963 million of Tesla stock
Published in : 11 Dec 2021

Elon Musk sells $963 million of Tesla stock

Elon Musk is continuing to discharge Tesla stock. 
 
 The tech billionaire vended Tesla shares, according to fiscal forms with the Securities and Exchange Commission published late Thursday. The shares are worth$963.2 million. 
Musk, who's the world’s richest man, also exercised stock options to buy2.17 million shares of Tesla, according to the forms. 
 
 Tesla’s share price was down over 1 in thepre-market trade on Friday, after slipping 6 in the former session. The Friday fall also came off the reverse of a tweet where Musk said he’s thinking of quitting his jobs to come an influencer, although it wasn't clear if was being serious. 
 Last month, Musk vended a aggregate of$9.85 billion in Tesla stock including the$6.9 billion he vended the week ofNov. 10 and another$1.9 billion he vended onNov. 15 andNov. 16. Some of the shares were vended in part to satisfy duty scores related to an exercise of stock options. 
 
 OnNov. 6, Musk asked his62.5 million Twitter followers to determine the future of a knob of his Tesla effects. In a Twitter bean, Musk said “ Important is made recently of unrealized earnings being a means of duty avoidance, so I propose dealing 10 of my Tesla stock. Do you support this?” 
The CEO gave people the option to bounce “ Yes” or “ No” and pledged to abide by the results of the bean, whichever way it went. Some people responded, and57.9 of them suggested for “ Yes.” 
 
 No matter the results of the Twitter bean, Musk would have likely started dealing millions of shares this quarter. That’s because he’s facing a brewing duty bill of further than$ 15 billion. 
Musk preliminarily said he was likely to vend “ a huge block” of his shares in the fourth quarter. In September, Musk said at the Code Conference in Beverly Hills, California, that his borderline duty rate will be further than 50 when his stock options expire at Tesla, and that he was formerly planning to vend soon. 
 
 “ I've a bunch of options that are expiring beforehand coming time, so. a huge block of options will vend in Q4 — because I've to or they’ll expire,” he said. 
 Other current and former Tesla board members, including Robyn Denholm, Kimbal Musk, Ira Ehrenpreis and Antonio Gracias have also unloaded hundreds of millions of bones worth of Tesla shares sinceOct. 28, as the company’s stock soared on the Nasdaq stock exchange.