Automotive News Updates

Elon Musk sells one other $1 billion in Tesla shares, nears inventory offload goal

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The newest sale takes Musk’s whole to about 15.6 million shares, for roughly $16.4 billion. He’d have to eliminate about 17 million shares to dump 10 % of his stake, assuming his pledge excludes exercisable choices.

Tesla shares have been down 1.3 % to $1,074 in morning buying and selling Wednesday.The shares have gained 54 % this 12 months.

It’s unclear whether or not the ballot in November had any precise bearing on Musk’s plans. He stated months earlier that he was prone to train a giant block of inventory choices towards the top of the 12 months, and he arrange a buying and selling plan to promote shares earlier than his tweet.

Musk has a internet price of $278.9 billion, up virtually 80 % this 12 months, based on the Bloomberg Billionaires Index.


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