Musk close to 10 per cent target after offloading 934,000 shares
Tesla’s chief executive and serial entrepreneur Elon Musk has sold almost $14bn worth of shares, getting closer to selling 10 per cent of his total Tesla holdings.
According to SEC filings, the chief executive yesterday offloaded 934,091 stocks for $884.1m.
Musk’s latest selling round was made to pay for taxes on the exercise of stock options to buy 2.2 million Tesla shares.
Yesterday’s batch is the second to be offloaded in a few days, as the chief executive sold $906.5m worth of stocks on Monday.
Musk started his selling spree in early November after he decided to abide by the results of a Twitter poll where he asked his then 63.5 million followers to weigh in on whether he should sell 10 per cent of his holdings.
Almost two third of respondents, 57.9 per cent, cast a vote in favour, while 42.1 per cent were against.