Elon Musk has now cashed out $12 billion in Tesla stock in a 5-week selling spree, as he jokes he wants to quit his jobs
Tesla CEO Elon Musk

Britta Pedersen/Pool/AFP by assignment of Getty Pictures

  • Elon Musk sold Tesla stock rate $963 million on Thursday, and joked he’s pondering of quitting his jobs.
  • The EV-maker’s CEO has now sold nearly $12 billion of shares since asking Twitter whether or no longer to promote 10% of his preserving.
  • Tesla’s stock is down 18% since Musk began to dump his shares on November 8.

Elon Musk has sold every other $1 billion of Tesla stock, which potential that he has cashed in nearly $12 billion in shares since asking Twitter whether or no longer he need to composed shed one-tenth of his holdings.

The billionaire took to social media all over again overnight, this time to tweet that he used to be pondering of quitting his roles as CEO of Tesla and SpaceX — taken as a shaggy dog yarn by his fans.

Musk sold 934,091 shares of the electric-vehicle maker rate $963.2 million on Thursday, a Securities and Exchange Commission submitting confirmed.

But on the identical time, he exercised stock alternatives to purchase 2.17 million shares in Tesla, at a ticket of $6.24 each and each. The stock gross sales had been made to conceal tax duties accurate by means of the alternatives explain, based completely on the SEC submitting.

In early November, the Tesla boss asked his Twitter followers whether or no longer he need to composed shed 10% of his stock, getting a convincing “yes” in reply.

In the five weeks since then, he has offloaded 11.03 million shares in a series of chunks, bringing the general divestment to $11.82 billion.

The stock’s ticket has dropped 18% since Musk began the promoting spree, however is up 42% up to now this year. It used to be down 1.2% in pre-market buying and selling Friday, after falling 6% at Thursday’s shut. 

To hit the 10% goal for cutting his preserving, Musk would favor to accept sold about 17 million shares (with out counting exercisable alternatives.) 

But whereas the world’s richest man has been culling Tesla stock, he has additionally picked up a hefty amount by assignment of exercising alternatives — a total of 12.9 million shares, based completely on Reuters. Meaning his acquisitions accept outstripped gross sales, and he has raised his general stake within the EV-maker.

Even earlier than the Twitter poll, Musk said in September he deliberate to promote shares to conceal the associated price of taxes due to exercising alternatives that had been space to trek out in 2022.

Analysts estimated Musk would possible incur a $10 billion tax invoice subsequent year from exercising alternatives, which provides him an incentive to liquidate some holdings. 

Meanwhile, the Tesla CEO  said on Twitter overnight that he’s pondering of quitting his jobs to turn accurate into a beefy-time influencer —  however didn’t give from now on crucial aspects. As smartly as being CEO of the EV maker and aerospace producer SpaceX, Musk is the founder of brain-chip company Neuralink and infrastructure firm The Tiresome Firm.

Elon Musk tweet

@elonmusk/Twitter

That intended it wasn’t obvious whether or no longer he used to be being excessive, however Musk is identified for his trolling on social media. His replies to feedback on the tweet — suggesting he launch an OnlyFans account or a youtube channel — suggested he used to be joking.

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