Elon Musk persisted to promote his Tesla Inc. shares Tuesday, promoting any other 934,000 shares for about $1.05 billion.
In all, Musk has sold about 9.2 million shares rate about $9.85 billion since Nov. 8, a day after Musk’s Twitter polldecided he could perchance well also soundless promote 10% of his Tesla stake. One of the most most stock gross sales had been build into motion well sooner than the pollwas once posted.
Assuming Musk intends to promote 10% of his shares, he’s extra than midway there. Sooner than the gross sales began, his 10% stake amounted to about 17 million shares — so after Tuesday’s gross sales, he has about 7.9 million shares to dart.
The Wall Road Journal reported Tuesday that Musk faced a $3.5 billion tax invoice on his alternatives, which can perchance perchance well possess been bigger is Tesla stock hadn’t plunged after he tweeted his plans to promote — saving him about $480 million, in step with WSJ calculations.
Barron’s on Tuesday estimated that at his recent tempo, Musk’s selloff will be done in any other four weeks.
has dropped about 9% since his Twitter pollNov. 8. Nonetheless, the electrical-automotive maker’s shares are up 57% year up to now, and up about 100% over the last 12 months.