Elon Musk resumes selling Tesla shares
ow that the post-Thanksgiving food coma has worn off, Elon Musk has resumed selling Tesla shares with unprecedented vigor. He exercised options to buy 2.1 million shares on Thursday, according to Securities and Exchange Commission filings, and immediately unloaded 924,091 shares, worth about $1 billion, to cover the tax bill from the transaction.
After taking a week off from jettisoning Tesla shares, Elon Musk has resumed his unprecedented selling spree. asking followers if he should sell 10% of his Tesla stake, ostensibly in light of a short-lived legislative proposal that would tax the unrealized stock gains of billionaires. Meanwhile, he’s been dumping stock he has held for years as well. In total, he has sold 5.4 million shares—nearly 3.2% of his Tesla stake—for some $5.8 billion in pretax cash. To hit the 10% mark he promised his Twitter followers, Musk will have to sell an additional 11.6 million shares, worth about $12.1 billion as of Friday at 11 a.m. in New York.
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