Musk has sold 75.66% of Tesla shares he promised to sell

Tiger Newspress2021-12-17

Tesla Inc Chief Executive Officer Elon Musk has sold nearly $14 billion worth of shares since early November when the world's richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.

The billionaire sold another 934,091 shares for $884.1 million on Thursday to pay for taxes on the exercise of stock options at a price of $6.24 to buy 2.2 million shares in Tesla, according to U.S. securities filings.

Musk has sold about 12900512 Tesla shares since November 8, accounting for 75.66% of his previously committed shares.

Here is a string of transactions he has done:

DATE SHARES ACQUIRED SHARES SOLD GROSS PROCEEDS
NOV. 8 2.2 mln
NOV. 8 934,091 $1.10 bln
NOV. 9 3.1 mln $3.35 bln
NOV. 10 500,000 $527.3 mln
NOV. 11 639,737 $687.3 mln
NOV. 12 1.2 mln $1.24 bln
NOV. 15 2.1 mln
NOV. 15 934,091 $930.7 mln
NOV. 16 2.1 mln
NOV. 16 934,091 $973.4 mln
NOV. 23 2.2 mln
934,091 $1.05 bln
DEC. 2 2.1 mln
934,091 $1.01 bln
Dec.9 2.2 mln
934,091 $963.2 mln
Dec.13 2.1 mln
934,091 $906.5 mln
Dec. 16 2.2 mln
934,091 $884.1 mln
Total 17.2 mln 12.9 mln $13.62 bln

HOW DID MUSK SELL?

Musk said on Nov. 6 he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.

The tweet was vague. Musk did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.

Tesla stock has dropped 25% since a peak on Nov. 4.

With a $243 billion fortune, Musk is the world’s richest person, according to the Bloomberg Billionaires Index.

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精彩评论

  • itradeidream
    2021-12-17
    itradeidream
    934091 the magic number 
  • ming22
    2021-12-17
    ming22
    Wow at 6.24 [Miser] 
  • SSVC
    2021-12-17
    SSVC
    Another 24% to sell…
  • Miaoj
    2021-12-17
    Miaoj
    Rich get richer
  • tig2021
    2021-12-17
    tig2021
    Ok
  • LimLS
    2021-12-17
    LimLS
    Not only Elon is selling, many big tech companies management are selling their shares. The reason might be due to taxes, personal reasons or just feeling the price is being overvalued. Hard for us to tell the real reason. No point to speculate. We can also sell part of our holdings and buy back later when cheaper. But never sell all. We might be just wrong in our guess
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