Elon Musk Just Sold Another $963 Million In Stock
On the same day he “joked” about quitting his jobs, Elon Musk casually unloaded another $963 million in Tesla stock, bringing his 6 week total to about $11 billion in stock sold.
Musk dumped another 934,091 shares, according to SEC filings on Thursday. He also exercised stock options to purchase 2.17 million shares at the same time, according to CNBC.
In what is developing to be an interesting timeline of events, on Thursday night, Musk also Tweeted that he was “thinking of quitting” his jobs to “become a full time influencer”.
Recall, we noted less than a week ago that Musk had dumped $10 billion in stock in the span of about a month.
“Musk has been claiming that the purpose of recent stock sales has been to offset tax liabilities, but Musk’s sales have shown no signs of stopping just yet,” we wrote.
While Musk has been dumping a ridiculous amount of stock to his loyal followers, Tesla has held somewhat steady when you ex out broader market moves, an anomaly we pointed out weeks ago when Musk first began his sales.
To unload the 10% of his Tesla stake he queried Twitter users about on November 6, Musk would need to sell 17 million shares, which equates to about 1.7% of the company’s outstanding stock.
If he follows through on these sales, Bloomberg writes that Musk “could end up shaving well over $2 billion off his tax bill as a result of his move to Texas from California last year”.
Fri, 12/10/2021 – 09:52
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