Elon Musk Sells Extra $1.2 Billion Worth of Tesla Shares

• Elon Musk has sold another $1.2 billion worth of Tesla shares, according to a filing late on Friday

• This sale follows $5.7 billion worth of shares that were sold on Thursday by the billionaire

• The latest shares were sold at an average price of $1,030 a share, bringing the total value sold to $6.9 billion for the week

Tesla CEO Elon Musk has sold 1.2 million shares of Tesla stock on Friday for $1.2 billion, according to a filing that was released late in the day.

The most recent sale brings the grand total sold by the billionaire to $6.9 billion for the week.

That amounts to about 4% of the shares that the world’s richest man owns in the electric car company.

About a week ago,Elon Musk made a Twitter poll asking if he should sell 10% of his holdings in the company, in a bid to increase his tax liability.

58% of the voters selected yes, triggering the billionaire to make the shares sales.

The stock sales have however had a negative effect on the value of Tesla shares, sending the prices down 15.4% for the week.

According to CNN, the poll may not have been the motivation for the sale. With a report showing that he had faced a tax bill.

Tesla is still the most valuable automaker in the world and the company recently joined an elite list or companies in the world that are worth above $1 trillion.

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