Elon Musk Sells Another $1bn Tesla Stock

Tesla CEO, Elon Musk has offloaded another 934,090 shares in the electric vehicle manufacturer for $1.2 billion, filings published by US financial authorities have shown.

Gatekeepers New s reports that with the development, the world’s richest person has sold $16.4billion in Tesla stock since early November when he asked his Twitter followers in a poll whether he should sell 10 percent of his holding in the business.

Musk recently revealed that he would pay over $11 billion in taxes this year, which is estimated by some to be the largest individual tax bill in US history.

Musk’s filings with US Securities and Exchange Commission on Tuesday also showed that he had purchased about 1.6 million shares in the carmaker at a strike value of $6.24 per share granted under the remuneration package.

Last week in an interview with conservative satirical website Babylon Bee, Musk said he had sold ‘enough stock’ to hit the 10 percent goal, but he admitted that some stock options expiring next year would have to be exercised ‘no matter what.’