: Elon Musk sells another $1 billion of Tesla stock; nearly $10 billion sold this month

Elon Musk persisted to promote his Tesla Inc. shares Tuesday, promoting any other 934,000 shares for about $1.05 billion.

According to filings with the Securities and Trade Price, Musk made the gross sales after exercising alternatives to want 2.15 million shares.

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.

Tesla stock
TSLA,
-3.05%

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.

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