Elon Musk sold additional Tesla shares worth about $ 687 million.

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Tesla CEO Elon Musk re-sold shares of the company worth about $ 687 million, following previous sales, according to The Wall Street Journal.

In particular, according to financial statements released on Friday, Musk sold 639,737 shares of Tesla on Thursday. The shares traded at prices between about $ 1,056.03 to $ 1,104.15, according to deposits.

Earlier in the week, Musk had sold nearly $ 5 billion in Tesla shares.

It is recalled that he himself had conducted a Twitter poll over the weekend on whether he should sell 10% of the shares he holds in Tesla and had said that he would abide by the result of the vote. About 58% of respondents had voted in favor of the sale. At that time, it owned about 170 million shares. Prior to the latest announcement, Musk had sold about 4.5 million shares this week, according to deposits.

To keep his Twitter pledge, Musk will likely need to sell about 12 million additional shares after Thursday’s sales.

Musk, according to Bloomberg, remains Tesla’s largest shareholder by a wide margin, even after these stock sales.


Source From: Capital

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