Entertainment

Elon Musk sells another $963 million of Tesla stock

Tesla Inc Chief Executive Officer Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $963.2 million, U.S. securities filings showed on Thursday.

Musk also sold shares worth $9.85 billion last month. Some of the shares were sold in part to satisfy tax obligations related to an exercise of stock options.

Tesla’s share price was down over 1% in the pre-market trade on Friday, after slipping 6% in the previous session. The Friday fall also came off the back of a tweet where Musk said he’s thinking of quitting his jobs to become an influencer.

On Nov. 6, Musk asked his 62.5 million Twitter followers to determine the future of a chunk of his Tesla holdings. In a Twitter poll, Musk said: “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?”

The CEO gave people the option to vote “Yes” or “No” and pledged to abide by the results of the poll, whichever way it went. Some 3,519,252 people responded, and 57.9% of them voted for “Yes.”

Other current and former Tesla board members, including Robyn DenholmKimbal MuskIra Ehrenpreis and Antonio Gracias have also offloaded hundreds of millions of dollars’ worth of Tesla shares since Oct. 28, as the company’s stock soared on the Nasdaq stock exchange.

ARTICLE: PAUL MURDOCH 

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: DNA INDIA

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Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

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