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Elon Musk Sells Another $1 Billion Worth of Tesla Shares

Tesla Inc (TSLA) CEO Elon Musk sold $1 billion worth of the automaker’s shares on Tuesday, as per filings made with the U.S. Securities and Exchange Commission. What Happened The filings, made Tuesday, reveal that Musk exercised options to purchase 2.15 million stock options at $6.24 each and sold 934,091 shares. Tesla shares closed at $1,109.03 a share on Tuesday, which would value the sale at $1.03 billion. “The shares of common stock were sold solely to satisfy the reporting person’s tax withholding obligations,” as per the filing. Why It Matters Musk has been selling shares to meet tax withholding obligations. The sales came after the Tesla CEO conducted a poll among his Twitter followers on Nov. 6, asking them whether he should sell 10 percent of his stock. However, it was reported the plan was set in motion months before the poll was held. On Friday, it was reported …

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