Tesla’s Elon Musk Exercises More Options, Sells Shares Worth $1.05 Billion
On 6 November, Musk had tweeted that he would sell 10 percent of his stocks if Twitter users approved.
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US securities filings on Tuesday, 23 November showed that Elon Musk, the Chief Executive Officer of Tesla Inc has sold another 934,091 shares of the company, which were worth $1.05 billion after he used options to buy 2.15 million shares, Reuters reported.
On 6 November, Musk had tweeted that he would sell 10 percent of his stocks if Twitter users voted in favour of this via a Twitter poll. Most of those who voted suggested he sell.
Following this, the world's richest person sold 9.2 million shares worth $9.9 billion. Last week, on Tuesday, he sold 934,091 shares "to meet tax withholding obligations related to the exercise of stock options."
Tesla designs and manufactures electric vehicles, solar panels, battery energy storage from home to grid-scale, solar panels and solar roof tiles and other related products and services.
(With inputs from Reuters)
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