Tesla’s Musk Sells Another $1 bln Worth of Company Shares

Tesla’s Musk Sells Another $1 bln Worth of Company Shares

Tesla’s Chief Executive Elon Musk on Tuesday sold 934,090 shares in the electric vehicle manufacturer for $1.02 billion, according to regulatory filings.

The move is part of the executive’s plan to reach his target of selling 10% of his Tesla shares. Musk also exercised options to buy nearly 1.6 million Tesla shares for $6.24 apiece, the filings showed.

As a result, Musk’s holdings in the company have increased to over 177 million shares from about 170.5 million shares, The Wall Street Journal reported.

Musk has now sold about 15.8 million Tesla shares for roughly $16 billion since November, according to MarketWatch. # Tesla’s Musk Sells Another $1 bln Worth of Company Shares