Elon Musk Sells $1.1 Billion In Tesla Stock—But Docs Reveal He Planned To Regardless Of Twitter Poll
Though users overwhelminglyfor Musk to make the sale, footnotes in the Wednesday regulatory filings reveal the 50-year-old in September planned to offload the initial tranche of shares sold Monday to help foot the bill for options scheduled to expire next year.
Combined, the transactions this week represent about 3% of Musk's overall stake; he still owns roughly 168 million Tesla shares.request for comment, sold the shares at an average price of about $1,070—securing a nearly 160% runup in prices over the past year but still 13% below an all-time high set on Thursday.Tesla stock since the company went public on the Nasdaq exchange in 2010—and it's easily his biggest transaction. In July 2010, Musk sold slightly more than 1.
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