Elon Musk Sells Another $1B in Tesla Shares

This week Tesla’s Chief Executive Elon Musk has sold off another $1B in the company’s shares.

Musk sold about $1.05 billion in stock on Tuesday evening according to financial filings posted this week. This marks a total of $9.85 billion in stock offloaded in the past two weeks.

This includes the $6.9 billion he sold the week of Nov. 10 and another $1.9 billion he sold on Nov. 15 and Nov. 16. Some of the shares were sold in part to satisfy tax obligations related to an exercise of stock options.

The sales were scheduled in September to exercise options that were set to expire in 2022.

Musk still has over 169 million shares in the electric vehicle company.

Tesla shares fell 15.4% the week ended Nov. 12, making it the worst week for Tesla stock in 20 months after Musk began selling shares.

It was earlier in the month that Musk had created an informal Twitter poll asking more than 60 million Twitter followers whether or not he should sell 10% of his Tesla stock. The poll ultimately ended with users telling Musk to sell.

Musk had revealed earlier in the year that he would sell “a huge block” of his options in the fourth quarter.

During an appearance at the Code Conference back in September, he said when his stock options expire at Tesla, his marginal tax rate would be over 50%.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.