Tesla Inc Chief Executive Officer Elon Musk has sold nearly $14 billion worth of shares since early November when the world’s richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.
The billionaire sold another 934,091 shares for $884.1 million on Thursday to pay for taxes on the exercise of stock options to buy 2.2 million shares in Tesla, according to U.S. securities filings.
Musk said on Nov. 6 he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust. The tweet was vague.
Musk did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.
Also Read:
Musk, who is also the founder and CEO space exploration company SpaceX, recently passed Amazon founder Jeff Bezos as the world’s wealthiest person as the rising price of Tesla pushed his net worth to around $300 billion. He owns about 17% of Tesla’s stock, which sold for almost $1,000 each on Monday.
Musk, a cryptocurrency supporter, has often endorsed dogecoin and said it is better for transactions, most recently in an interview to the Time magazine, which named him “Person of the Year” for 2021 on Monday.