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Factbox-Tesla's Musk sells shares worth nearly $12 billion in a month

Published 12/09/2021, 09:58 PM
Updated 12/09/2021, 10:01 PM
© Reuters. FILE PHOTO: Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo

By Hyunjoo Jin and Subrat Patnaik

(Reuters) -Tesla Inc Chief Executive Officer Elon Musk has sold nearly $12 billion worth of shares over the past month since the world's richest person polled Twitter (NYSE:TWTR) users about offloading 10% of his stake in the electric-car maker.

On Thursday, the billionaire sold another 934,091 shares for $963 million to pay for taxes on the exercise of stock options to buy 2.17 million shares in Tesla (NASDAQ:TSLA), according to U.S. securities filings.

He has sold a combined 11.03 million shares and has acquired 12.87 million shares by exercising options since Nov. 8.

Here is a string of transactions he has done:

DATE SHARES ACQUIRED SHARES SOLD GROSS PROCEEDS

NOV. 8 2.2 mln

NOV. 8 934,091 $1.10 bln

NOV. 9 3.1 mln $3.35 bln

NOV. 10 500,000 $527.3 mln

NOV. 11 639,737 $687.3 mln

NOV. 12 1.2 mln $1.24 bln

NOV. 15 2.1 mln

NOV. 15 934,091 $930.7 mln

NOV. 16 2.1 mln

NOV. 16 934,091 $973.4 mln

NOV. 23 2.15 mln

934,091 $1.05 bln

DEC. 2 2.1 mln

934,091 $1.01 bln

Dec.9 2.17 mln

934,091 $963.2 mln

Total 12.87 mln 11.03 mln $11.84 bln

HOW DID MUSK SELL?

Musk said on Nov. 6 he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.

© Reuters. FILE PHOTO: Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo

The tweet was vague. Musk did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.

Following the latest transactions on Thursday, Musk still has an option to buy about 10 million more shares at $6.24 each, which expires in August next year.

Latest comments

very nice
10% worth of stock options not direct 10% shares , no one will afford it thats over $150Billion
hi
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