Elon Musk Sells Another $1 Billion Worth of Tesla Shares
Tesla CEO Elon Musk sold $1.05 billion worth of his stocks in the electric car company on Tuesday
This brings the total worth of share sales by the billionaire to $9.85 billion in the past two weeks
The world’s richest man still owns more than 169 million Tesla shares
According to filings reports posted this week, Tesla CEO Elon Musk sold about $1.05 billion worth of shares in the electric vehicle company.
The sales were reportedly scheduled in September to exercise options that are set to expire in 2022.
The recent stock sale brings the billionaire’s total sale of Tesla stock to $9.85 billion in November.
It will be remembered that Musk sold $6.9 billion worth of stock on November 10 and another $1.9 billion on November 15 and 16 to offset his tax deficit.
Following the mass sales, the shares of the electric car company fell by 15.4%, marking Tesla’s worst week in almost 2 years.
It all began when Elon Musk made a Twitter poll on Nov. 6 asking his followers if he should sell 10% of the stock.
The poll ended with the majority of the voters asking him to sell the stocks and he did a few days later.
According to Bloomberg, Musk remains the richest man in the world with an estimated net worth of $304 billion.