: Another day, another Tesla stock sale for Elon Musk: $8.8 billion over past 7 days

Elon Musk purchased a super chunk of Tesla Inc. inventory for the seventh straight day Tuesday, bringing him virtually halfway to his Twitter promise of marketing 10% of his stake within the company.

In step with filings with the Securities and Replace Rate, Musk exercised extra of his alternatives and bought extra than 934,000 shares Tuesday, for roughly $973 million. That adopted a $930 million inventory sale Monday.

In entire, Musk has purchased about 8.16 million shares for $8.8 billion since Nov. 8, a day after Musk’s Twitter poll decided he also can unruffled promote 10% of his Tesla stake. Among the inventory sales had been attach into trot successfully sooner than the poll change into once posted.

Assuming Musk intends to promote 10% of his shares, he’s virtually halfway there. Sooner than the sales began, his 10% stake amounted to about 17 million shares — so after Tuesday’s sales, he would have about 8.84 million shares to dash.

Musk, the enviornment’s wealthiest man, has hundreds and hundreds of inventory alternatives that he wants to exercise by August 2022, and Musk said in September that he supposed on selling a super chunk of inventory within the fourth quarter. CNBC reported last week that Musk faces about a $15 billion tax invoice on these alternatives.

Tesla shares
TSLA,
-3.05%

stopped their hurry Tuesday, rising about 4%, after sinking extra than 17% since Musk’s inventory selloff began Nov. 8. The inventory is up 50% 300 and sixty five days to this point, and has won 139% at some stage within the last 12 months.

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