Elon Musk unloads another $1 billion in Tesla stock


Elon Musk bought another $1 billion price of Tesla Inc. stock Tuesday, as he closes in on his aim of divesting 10% of his stake in the electric-vehicle maker.

According to filings Tuesday with the Securities and Exchange Commission, Musk bought about 934,000 shares, price about $1.02 billion. He additionally exercised options on 1.55 million shares.

That brings his whole to about 15.eight million shares unloaded since Nov. 7, when he posted a Twitter ballot asking if he ought to promote 10% of his Tesla stake. Altogether, the stock gross sales have been price a little bit over $16 billion. He has additionally exercised about 22.eight million stock choices — all of his vested choices that will have expired subsequent yr.

At the time of his Twitter ballot, Musk’s 10% stake got here out to about 17 million shares.  Last week, Musk tweeted that he was “almost done,” with simply “a few tranches left.” Most of the stock gross sales had been scheduled in September, to pay for a roughly $11 billion tax bill.

Last week’s feedback halted a monthlong stoop in Tesla’s stock worth since his selloff started, as the corporate regained a market cap above $1 trillion.

Tesla stock
TSLA,
-0.50%

is down 5% in the previous month, however has gained 21% over the previous 5 days. Shares are up 54% yr to this point, in comparison with the S&P 500’s
SPX,
-0.10%

27% acquire this yr.

Updated with a brand new whole variety of stock choices exercised.



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