Elon Musk sells $1.1bn of Tesla shares

Elon Musk sold about $5 billion in Tesla shares this week as he exercised stock options he received as part of his compensation package, according to regulatory filings.

Elon Musk has sold approximately $1.1 billion in Tesla shares, after indicating over the weekend he would sell 10% of his stock based on the results of a Twitter poll.

Elon Musk sold about $5 billion worth of Teslashares, he disclosed on Wednesday. The move was partly to cover his tax obligations on stock options. He still owns nearly 17% of the company’s stock.

What people are saying?

Kevin Kehres When the markets are rising (like now), you can basically sell off a portion of your equity position without it affecting your bottom line that much, if at all. Plus, he gets to buy new toys with the proceeds, like another spaceship. Or gold-plated politicians.

In For The Fun And this is how rich people become richer. By playing with their shares prices and selling when the price becomes too high. Poor sad small investors. But since they are fans, they’re gonna keep that golden share until Tesla goes into oblivion.