Elon Musk sold another $1 billion in Tesla shares on Tuesday

4 days ago
ARTICLE AD

SpaceX laminitis and Tesla CEO Elon Musk visits the operation tract of Tesla's gigafactory successful Gruenheide, adjacent Berlin, Germany, May 17, 2021.

Michele Tantussi | Reuters

Tesla CEO Elon Musk sold astir $1.05 cardinal successful banal connected Tuesday evening, according to financial filings posted this week. The income were scheduled successful September to workout options that were acceptable to expire successful 2022.

Musk has sold a full of $9.85 cardinal successful Tesla banal this month, including the $6.9 cardinal helium sold the week of Nov. 10 and different $1.9 cardinal helium sold connected Nov. 15 and Nov. 16. Some of the shares were sold successful portion to fulfill taxation obligations related to an workout of banal options.

Musk and his spot inactive clasp much than 169 cardinal shares successful the company.

Tesla shares fell 15.4% past week, marking the worst week for Tesla banal successful 20 months aft Musk began selling shares. Shares of Tesla were up astir 1% connected Wednesday afternoon.

Musk ran an informal Twitter poll connected Nov. 6 asking his much than 60 cardinal Twitter followers whether oregon not helium should merchantability 10% of his Tesla stock. The canvass yet ended with users telling Musk to sell.

But, Musk had already indicated earlier this twelvemonth helium was apt to merchantability "a immense block" of his options successful the 4th quarter. During an appearance astatine the Code Conference in September, helium said erstwhile his banal options expire astatine Tesla, his marginal taxation complaint would beryllium implicit 50%.

CNBC's Lora Kolodny contributed to this report.

Subscribe to CNBC connected YouTube.