Elon Musk sold a ample chunk of Tesla Inc. banal for the seventh consecutive time Tuesday, bringing him astir halfway to his Twitter committedness of selling 10% of his involvement successful the company.
According to filings with the Securities and Exchange Commission, Musk exercised much of his options and sold much than 934,000 shares Tuesday, for astir $973 million. That followed a $930 cardinal banal merchantability Monday.
In total, Musk has sold astir 8.16 cardinal shares for $8.8 cardinal since Nov. 8, a time after Musk’s Twitter canvass decided helium should merchantability 10% of his Tesla stake. Some of the banal income had been enactment into question good earlier the canvass was posted.
Assuming Musk intends to merchantability 10% of his shares, he’s astir halfway there. Before the income began, his 10% involvement amounted to astir 17 cardinal shares — truthful aft Tuesday’s sales, helium would person astir 8.84 cardinal shares to go.
Musk, the world’s wealthiest man, has millions of banal options that helium needs to workout by August 2022, and Musk said successful September that helium intended connected selling a ample chunk of banal successful the 4th quarter. CNBC reported past week that Musk faces astir a $15 cardinal taxation measure connected those options.
Tesla shares TSLA, +4.08% stopped their descent Tuesday, rising astir 4%, aft sinking much than 17% since Musk’s banal selloff began Nov. 8. The banal is up 50% twelvemonth to date, and has gained 139% implicit the past 12 months.
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