Tesla CEO Elon Musk The filing showed that $973 million in stock has been sold to pay taxes after the options were exercised on Tuesday. Musk acquired 2.1 million shares worth $2.2 billion at Tuesday’s closing price and sold $934,091 for $973 million to pay taxes, an SEC filing showed.
Elon Musk exercised options and unloaded more shares of Tesla Inc., continuing a selling streak that helped the stock tank the most last week since March 2020.
The world’s richest man on Monday settled more than 934,000 shares for about $930 million. This adds to the $6.9 billion he already sold last week, when he took an unusual Twitter poll asking whether he should dispose of his 10% Tesla stake. A portion of Monday’s sale was to help pay taxes on the exercise of 2.1 million options.
Over the past week, Musk has sold about 8.2 million Tesla shares for about $8.8 billion. Those sales fulfilled nearly half of its pledge on Twitter to sell its 10% stake in Tesla.
Musk began selling shares after the idea was brought up in a Twitter poll last week. The sale was prompted by a set up Musk on Twitter on November 6, stating that “there has been a lot of unrealized gains lately as a means of avoiding tax, so I’m going to sell 10% of my Tesla stock.” I propose.” Nearly 58% of the 3.5 million votes were cast in favor of the sale. With increasing demand from electric-car makers on Wall Street, Tesla’s stock has gained more than 150% over the past 12 months.
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