Elon Musk sells another $930 million in Tesla shares

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Staff Writer

International | More than 934,000 Tesla shares worth $930 million were sold by Elon Musk on Monday, according to US Securities and Exchange Commission filings.

  • On Monday, the share price closed at $1,013.39, which means that Musk must pay income taxes on the difference between the exercise price and the fair market value of the shares.
  • The billionaire has exercised his stock options a second time in less than two weeks.
  • Last week, Tesla CEO Elon Musk sold $6.9 billion in stock.
  • Elon Musk took to Twitter on Sunday to mock Bernie Sanders for saying that the wealthy should pay their fair share of taxes.
  • Tesla shares tanked 5% on Monday.

2.1 million shares of Tesla stock were sold at $6.24 each, according to one of the filings. On Monday, the share price closed at $1,013.39, which means that Musk must pay income taxes on the difference between the exercise price and the fair market value of the shares.

The billionaire has exercised his stock options a second time in less than two weeks. On November 8, Musk exercised options to acquire nearly 2.2 million shares, a regulatory filing shows.

Last week, Tesla CEO Elon Musk sold $6.9 billion in stock. According to the results of an online poll conducted earlier this month, Mr. Trump said he would sell 10 percent of his company’s stock and pay his taxes.

Stocks sold by the billionaire today are part of a September trading plan, according to SEC filings.

There are still millions of stock options that must be exercised before August of next year.

At a time when Americans are debating whether the wealthy are paying enough taxes, Musk’s Twitter poll and share sales are timely. According to the Bloomberg Billionaires Index, Tesla CEO Elon Musk has a net worth of $279 billion.

Elon Musk took to Twitter on Sunday to mock Bernie Sanders for saying that the wealthy should pay their fair share of taxes.

“Want me to sell more stock Bernie? Just say the word,” Musk tweeted to Sanders in response. Tesla shares tanked 5% on Monday.

Staff Writer

Published by
Staff Writer