Elon Musk Continues Selling Spree, Lets Go Of $1.01 Billion In Tesla Shares
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Tesla CEO Elon Musk has sold extra 934,091 of his shares in the electric car company for $1.01 billion
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The sale was aimed at helping him to meet tax obligations related to the exercise of options to buy 2.1 million shares
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The world’s richest man still has an option to buy 10 million shares at $6.24 each via an options exercise that expires in August next year
Tesla Chief Executive Elon Musk has sold additional 934,091 shares of the electric vehicle maker worth $1.01 billion, according to regulatory filings on Thursday.
The share sale spree is aimed at helping the billionaire reach tax obligations related to the exercise of options to buy 2.1 million shares.
Recall that in November, the world’s richest person tweeted that he would sell 10% of his shares in the electric car company if followers voted “yes”.
Since the results of the Twitter poll emerged, the world’s richest man has sold 10.1 million shares for $10.9 billion.
It’s really a loss for the Tesla boss because he has the option to purchase about 10 million more shares at $6.24 each and it expires in August next year.
Read also: Virtual Land in Metaverse Sells For $2.43 Million
At the time of this report, Tesla Inc stocks are down by 0.95% in the last 24 hours, trading at $1,084 per share.
Musk remains at the summit of the list of the world’s richest men according to Bloomberg billionaires index. The 50-year-old is valued at $284 billion.
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