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Musk Has Now Sold More Than Half the Stock He Vowed on Twitter

Tiger Newspress2021-11-24

After a few days’ break, Elon Musk resumed selling shares in Tesla Inc., now coming more than halfway to making good on his promise to offload 10% of his stake in the electric-car maker.

The billionaire sold an additional 934,091 shares for $1.05 billion, according to regulatory filings late on Tuesday U.S. time. He also exercised 2.15 million stock options, and the sales were made to cover the taxes related to that transaction, the documents showed.

With the most recent disposals, Musk now has offloaded 9.2 million shares and collected about $9.9 billion of proceeds since he conducted a Twitter poll asking whether he should sell 10% of his Tesla stake. A chunk of that money will go to taxes.

To reach the 10% threshold, Musk would need to sell some 17 million shares, or about 1.7% of the company’s outstanding stock. If his exercisable options are factored into his overall ownership, he’d need to sell even more.

Musk has exercised millions of options since the Twitter poll, all of which were less than a year from their expiration date. In September, he established a pre-arranged trading plan to carry out “an orderly sale of shares related to the exercise of stock options,” filings show. The Nov. 6 Twitter poll didn’t disclose the existence of that plan.

Musk, 50, is the world’s richest person with a $303.7 billion fortune, according to the Bloomberg Billionaires Index. He’s added $133.9 billion to his net worth this year, more than anyone else, amid a 57% jump in Tesla shares.

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评论47

  • bulldozer
    ·2021-11-28
    Wow
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  • koolgal
    ·2021-11-27
    As Elon Musk continues to sell his stocks, Tesla's share price will be volatile during this period especially now that Fear has hit the markets on news of the Omicron variant! 
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    • koolgal
      Thanks
      2021-11-28
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    • koolgal
      Thanks
      2021-11-28
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    • DarkFate
      Like
      2021-11-27
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    查看更多 2 条评论
  • Adinn
    ·2021-11-27
    Ok
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  • CCLaunty
    ·2021-11-27
    Good time to buy in
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  • Abgi
    ·2021-11-25
    Ok
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  • Bspn
    ·2021-11-25
    Cash out
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  • b1uesky
    ·2021-11-25
    Like
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  • THH092
    ·2021-11-24
    how many more to sell?
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  • Cecilia1
    ·2021-11-24
    Dip, Dip, Dip.... Buy,Buy  Buy... then Split, Split  Split... 😁 hopefully la. 
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  • MHh
    ·2021-11-24
    Will it dip tonight?[Thinking] 
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    • MHh
      Hope you managed to buy in the early dip!
      2021-11-25
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    • MHh
      [Grin]
      2021-11-24
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    • HMian
      Likely
      2021-11-24
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  • CTLT
    ·2021-11-24
    Once Musk had go on Twitter, Tesla will has a big wave of movement
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  • Abgi
    ·2021-11-24
    Hmm
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  • hohok
    ·2021-11-24
    Pls like
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    • ZEROHERO
      Done
      2021-11-24
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  • Tell me your opinion about this news...
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  • BryanIsaac
    ·2021-11-24
    Like
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    • Shhui
      Liked
      2021-11-24
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  • thesushimao
    ·2021-11-24
    Wow
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  • Uncrowned
    ·2021-11-24
    Good time to add 
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  • ndut
    ·2021-11-24
    Wow
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  • aaronh
    ·2021-11-24
    [笑哭] 
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    • aaronh
      [可爱]
      2021-11-24
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