King of Green: Elon Musk Sells Another $1 Billion of Tesla Stock

BERLIN, GERMANY DECEMBER 01: SpaceX owner and Tesla CEO Elon Musk poses on the red carpet of the Axel Springer Award 2020 on December 01, 2020 in Berlin, Germany. (Photo by Britta Pedersen-Pool/Getty Images)
Britta Pedersen-Pool/Getty Images

Tesla and SpaceX CEO Elon Musk has sold another $963.2 million worth of Tesla stock. Last month, Musk sold almost $10 billion worth of stock.

CNBC reports that Tesla CEO Elon Musk has once again sold a large portion of shares in the company. According to financial filings with the SEC published late Thursday, Musk sold 934,091 shares of Tesla stock worth $963.2 million.

Tesla CEO Elon Musk unveils the new Tesla factory in Fremont, Calif., Wednesday, Oct. 27, 2010. The new Tesla factory is the former NUMMI plant. (AP Photo/Paul Sakuma)

Tesla CEO Elon Musk unveils the new Tesla factory in Fremont, Calif., Wednesday, Oct. 27, 2010. The new Tesla factory is the former NUMMI plant. (AP Photo/Paul Sakuma)

Tesla share prices fell more than one percent in pre-market trading on Friday, after falling by six percent in the previous session, but is positive in mid-day trading. The fall in stock price was likely also influenced by Musk’s joke about quitting his jobs to become a full-time internet influencer.

Last month, Musk sold $9.85 billion worth of stock, including the $6.9 billion he sold the week of November 10 and another $1.9 billion he sold on November 15 and November 16. Some shares were sold partly to satisfy tax obligations related to an exercise of stock options.

In a tweet at the time, 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?”

Musk’s followers could choose from “Yes,” or “No.” 3,519,252 people responded to the poll and 57.9 percent voted “yes.”

Musk said at the Code Conference in Beverly Hills, California, in September that his marginal tax rate would be more than 50 percent when his stock options expire at his company and he planned to sell soon. “I have a bunch of options that are expiring early next year, so … a huge block of options will sell in Q4 — because I have to or they’ll expire,” he said.

Read more at CNBC here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com

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