Tesla CEO Elon Musk Sells Nearly $5 Billion in Tesla store, According To financial sawdust Outside Wednesday Evening, He still holds over 166 million shares.
His trust sold more than 3.5 million shares worth more than $3.88 billion in a flurry of trades made on Tuesday and Wednesday. Those transactions were not marked as 10b5, meaning they were not scheduled sales.
Earlier on Wednesday evening, sawdust Has shown Musk is selling a separate block Tesla Shares through a plan which he set into motion on 14 September this year. Those sales amounted to more than 930,000 shares worth more than $1.1 billion.
Musk sold these shares in part to meet tax obligations related to the exercise of stock options.
Before the sale plan was made public, musk Your 62.5 million . asked the Twitter Asks followers to vote in an informal poll, telling them that their vote will determine the future of their Tesla holdings. The filing shows that, in fact, he knew that some of his shares were set for sale this week.
Tesla Shares Fall Over 15% After Twitter Poll Monday and Tuesday, before rebounding more than 4% on Wednesday.
NS stock was high in after-hours trading on Thursday.
Speaking at the DealBook Online summit on Wednesday, Citadel CEO Ken Griffin said he personally doesn’t want to see Musk sell. “Individuals like Jeff Bezos like Elon Musk have changed lives, and we want to keep them in control of our companies as long as they have the energy and ambition to keep the business going.”
Earlier, Musk indicated that he was likely to sell “a large block” of his options in the fourth quarter. in a presence code convention In September, Musk said that when his stock options in Tesla expire, his marginal tax rate will exceed 50%.
Current and former board members, including Chairman Robin Denholm, Elon Musk’s brother Kimbal Musk, Ira Ehrenparis and Antonio Gracias, have unloaded hundreds of millions of dollars worth of Tesla shares since October 28 when Tesla’s market cap crossed $1 trillion Is.
Of those insider sales, Kimbal Musk was the only transaction not listed as a 10b5, or planned sale. Kimbal Musk sold out His shares were worth about $109 million the day before his brother’s Twitter poll.