Elon Musk , Sells Nearly $5 Billion, of Tesla Stock.
CNN Business reports Elon Musk sold approximately $5 billion worth of Tesla stock this week.
CNN Business reports Elon Musk sold approximately $5 billion worth of Tesla stock this week.
Musk recently conducted a poll on Twitter asking followers what he should do with his 10% stake in the company.
Musk recently conducted a poll on Twitter asking followers what he should do with his 10% stake in the company.
Filings with securities regulators show that Musk had exercised stock options on Nov 8., subsequently selling half of the 2.1 million shares he had gained.
Filings with securities regulators show that Musk had exercised stock options on Nov 8., subsequently selling half of the 2.1 million shares he had gained.
Musk sold another 3.6 million shares of the company on Nov.
9 and Nov.
10.
Musk sold another 3.6 million shares of the company on Nov.
9 and Nov.
10.
Filings state the sale was "solely to satisfy [Musk's] tax withholding obligations related to the exercise of stock options.".
Filings state the sale was "solely to satisfy [Musk's] tax withholding obligations related to the exercise of stock options.".
As of Nov.
11, Musk had sold 2.6% of the Tesla shares in his possession.
As of Nov.
11, Musk had sold 2.6% of the Tesla shares in his possession.
According to CNN Business, he made a $2.5 billion profit.
Tesla is worth over $1 trillion and is only the sixth company ever to reach that mark.
With a net worth of nearly $300 billion, Musk is currently the wealthiest person in the world.
With a net worth of nearly $300 billion, Musk is currently the wealthiest person in the world