Elon Musk exercises more options, sells Tesla shares worth $1.01 billion
Tesla Inc Chief Executive Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $1.01 billion to meet his tax obligations related to the exercise of options to buy 2.1 million shares, regulatory filings showed on Thursday.
(Also read: Tesla says goodbye to California and howdy to Texas)
In early November, the world's richest person tweeted that he would sell 10% of his stock if users of the social media platform approved. A majority of them had agreed with the sale.
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Since Nov. 8, Musk has exercised options to buy 10.7 million shares and sold 10.1 million shares for $10.9 billion.
Following a flurry of options exercise, Musk still has an option to buy about 10 million more shares at $6.24 each, which expires in August next year.