Home » Musk sells 3.59 million Tesla shares again worth about $4 billion

Musk sells 3.59 million Tesla shares again worth about $4 billion

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According to Bloomberg,TeslaCEO Musk sold 3.59 million shares againTeslaThe stock is worth about 4 billion U.S. dollars. Previously, according to SEC documents,TeslaCEO Musk sold his trustfundHolds about 580,000 Tesla shares.

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Pay option taxes?Musk sold more than $1.1 billion in stock after launching the vote

Musk fulfilled his “promise.”

On November 11th, Beijing time, according to documents submitted by Tesla, Tesla CEO Musk sold shares worth more than $1.1 billion. The documents show that Musk exercised stock options on November 8 and purchased 2,154,572 shares at a price of $6.24. This part of the options will expire on August 13, 2022 and sold 93,4091 shares on November 8. For stocks, the selling price range is 1139.05 US dollars to 1196.6 US dollars.

Foreign media believe that Musk sold these shares in part to fulfill the tax obligations related to the exercise of stock options.

It’s worth noting that on the 7th, Musk was inTwitterInitiated a vote to ask netizens whether they want to sell 10% of Tesla shares, worth more than 20 billion U.S. dollars.

Musk also said that regardless of the result, he will abide by the voting results. The final voting results on November 8 showed that nearly 58% of people agreed to sell, and the total number of votes exceeded 3.5 million. According to this result, Musk should sell the stock.

But judging from the disclosed regulatory documents, Musk had already planned to cash out, but only did a marketing on social networks.

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After a Twitter poll, Tesla’s stock price fell by more than 15% on Monday and Tuesday, and then rebounded by more than 4% on Wednesday.

Earlier, Musk hinted that he might sell “a large chunk” of options in the fourth quarter. At the Code Conference in September, Musk said that when his Tesla stock options expire, his marginal tax rate will exceed 50%.

Since Tesla’s market value exceeded $1 trillion on October 28, current and former board members, including Chairman Robyn Denholm, Elon Musk’s brothers Kimbal Musk, Ira Ehrenpreis, and Antonio Gracias, have sold hundreds of millions of dollars worth of specialties. Sla stock.

According to documents disclosed after the US stock market on November 9, Kimbal Musk, one of Tesla’s directors, sold 88,500 Tesla shares on November 5 at an average price of $1229.91 per share, or approximately $109 million.

(Article source: Financial Association Press)

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