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Musk sells one other $1 billion of Tesla shares

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Elon Musk offloaded one other $1.01 billion price of Tesla shares, advancing towards the purpose of promoting 10 p.c of his stake within the electric-car maker.

Within the newest transaction, the world’s richest individual unloaded about 934,000 shares, based on regulatory filings dated Thursday. The gross sales have been to assist him offset taxes on the train of about 2.1 million choices.

That takes the whole of shares bought to 10.1 million for about $10.9 billion since Musk requested his Twitter followers on Nov. 6 whether or not to dump 10 p.c of his Tesla stake, which might signify about 1.7 p.c of the corporate’s excellent inventory.

He would want to promote much more if considering the exercisable choices he owns.

Whereas the vast majority of his Twitter followers answered “sure” to the ballot, Musk had already stated in September he was more likely to train “an enormous block” of choices towards the top of this 12 months and had established a pre-arranged buying and selling plan to hold out “an orderly sale of shares associated to the train of inventory choices,” filings present.

With a $284.1 billion fortune, Musk is richer than anybody else on the planet, based on the Bloomberg Billionaires Index. His wealth has surged by $128.1 billion this 12 months as Tesla shares have climbed 54 p.c.

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