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Musk offloads another $1.05bn crossing the halfway mark
Tesla’s chief executive Elon Musk has sold another 934,091 shares for $1.05bn, crossing the halfway point in his plan to offload 10 per cent of his stake in the company
US securities filings from late last night showed that Musk carried out the sale after exercising options to buy 2.15 million shares.
Since 6 November – when he decided to abide by the results of a Twitter poll where he asked his 63.5 million followers to weigh in on whether he should sell 10 per cent of his holdings – Musk has offloaded 9.2 million shares worth $9.9bn.
To reach the 10 per cent threshold, Musk should offload another 7.1 million shares to reach 17 million – 1.7 per cent of Tesla’s outstanding stock, Bloomberg reported.