Tesla’s chief executive, Elon Musk, revealed an additional sale of shares in the electric car maker worth about US$ 687 million, as regulatory documents showed on Friday (12), after he sold about about $5 billion in bonds earlier this week.
Musk sold 639,737 shares held by his fund yesterday (11) through various transactions, according to two separate documents.
The richest person in the world and Tesla’s main shareholder wrote on Twitter last week that he would sell 10% of his shares if users of the social media platform approved the move.
In the first round of the sale, records showed that the fund sold nearly 3.6 million Tesla shares, worth about $4 billion, while it also sold another 934,000 shares for $1.1 billion to cover obligations after exercising options to acquire nearly 2.2 million shares.
Prior to the sale, the super-rich owned about a 23% stake in Tesla, including stock options.
The billionaire had previously said that he would have to exercise a large number of stock options in the next three months, which would generate a large tax collection. Selling some of your papers could free up resources to pay your taxes.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
