Elon Musk Sells Another 934,000 Tesla Shares Worth $930Mln - Financial Filings

Tesla founder Elon Musk sold more than 934,000 of his shares in the company worth $930 million, according to the financial filings issued by the US Securities and Exchange Commission

WASHINGTON (UrduPoint News / Sputnik - 16th November, 2021) Tesla founder Elon Musk sold more than 934,000 of his shares in the company worth $930 million, according to the financial filings issued by the US Securities and Exchange Commission.

The trading price of Tesla stock reached $1,013.39 per share as of Tuesday. The billionaire also exercised options for 2.1 million shares worth $6.24 a share.

Since November 8, Musk has sold a total of about 7.23 million shares worth approximately $7.83 billion, as reported by Market Watch.

The sale followed a Twitter poll issued by Musk on November 6, where he asked his followers to decide if he should sell 10% of Tesla stock amid talks about "unrealized gains being a means of tax avoidance.

" Over half of the respondents - 57.9% - supported the idea.

According to data provider FactSet, as of June, Musk was the largest shareholder of Tesla, owning 17% of the company's stock, amounting to about $200 billion.

Tesla Motors was founded in 2003 as a developer and manufacturer of electric vehicles and related technologies. The company is headquartered in Palo Alto, California. In addition to electric vehicles, the company uses its technology to produce batteries and electric motors and sell them to other car companies such as Toyota and Daimler.