BUSINESS NEWS

Tesla CEO Elon Musk Buys More Shares Than He Sells


  • Tesla CEO Elon Musk sold another 934,091 shares on Thursday for $963 million.
  • He also exercised stock options to buy 2.17 million shares in Tesla.
  • Musk has sold a total of 11.03 million Tesla shares while acquiring 12.87 million shares since November 8.

Tesla CEO Elon Musk has sold nearly $12 billion worth of shares over the past month since the world’s richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.

On Thursday, the billionaire sold another 934,091 Tesla shares for $963 million to pay taxes on the exercise of stock options to buy 2.17 million shares in Tesla, according to US securities filings.

He has sold a combined 11.03 million shares and has acquired 12.87 million shares by exercising options since November 8. 

Here is a string of transactions he has done:

How much did Musk sell?

Musk said on November 6 he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.

The tweet was vague. Musk did not outline if he intended to offload 10% of the shares he indirectly owned through the trust or if his stock options were also part of the deal.

Following the latest transactions on Thursday, Musk still has an option to buy about 10 million more shares at $6.24 each, which expires in August next year.



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