November 24, 2021 | 3:57 pm
The CEO of Tesla, Elon Musk, sold about $ 1.05 billion in Actions, according to financial documents released this week.
According to CNBC, the sales were scheduled in September to exercise options that were due to expire in 2022.
This month, Musk has sold a total of $ 9.85 billion in Tesla shares, including the $ 6.9 billion it sold the week of November 10 and the $ 1.9 billion it sold on November 15 and 16.
Some of the shares were sold in part to satisfy tax obligations related to the exercise of stock options.
Musk and his trust still own more than 169 million shares of the company.
Also read: Elon Musk sells $ 690 million in Tesla stock after Twitter poll
In the week ending Nov. 12, Tesla shares fell 15.4%, marking the worst week for its stocks in 20 months, after Musk began selling shares.
In Wednesday’s session, Tesla shares closed 0.63% higher at $ 1,116, according to data from Investing.com.
On November 6, Musk conducted an informal poll on Twitter asking his more than 60 million followers on the network whether or not he should sell 10% of his Tesla stock. The survey finally ended when users told Musk to sell.
However, Musk had already indicated earlier this year that he would probably sell “a big block” of his options in the fourth quarter. During an appearance at the Code Conference in September, he said that when his stock options expire at Tesla, his marginal tax rate would be more than 50%.