Elon Musk just sold another 22 million shares of Tesla, raising $3.6 billion.
Musk sold the shares on Monday, Tuesday and Wednesday this week. The sales were disclosed in an SEC filing late Wednesday. Musk did not disclose the reason for the sales in the filing. They’re his first sales of Tesla stock since early November, when he sold 19.5 million shares shortly after closing on his purchase of Twitter. Before Musk first started his efforts to buy Twitter, he rarely sold Tesla shares.
” Musk’s sales this week represent just less than 5% of the Tesla shares he held outright. Even with these latest sales he owns 423.6 million shares of Tesla through a trust he controls, worth about $69 billion based on the average sale price he received this week, and he has options to buy nearly 279 million more shares, worth nearly $39 billion after the paying the exercise price. He’s likely to get even more options early next year after Tesla’s upcoming financial results are reported.
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