Tesla director Kimbal Musk sells nearly $110 million in stock

Kimbal Musk made practically $110 million by exercising Tesla Inc. inventory choices proper earlier than his brother, Elon, spent the weekend asking Twitter customers whether or not he ought to promote a giant chunk of his stake within the electric-vehicle firm.

In line with a filing with the Securities and Exchange Commission, Kimbal Musk — who serves on Tesla’s board of administrators — exercised his possibility Friday to purchase 25,000 Tesla shares at $74.17 apiece, and instantly bought them in tranches starting from $1,223 a share to $1,236 a share, making about $108.8 million.

Kimbal Musk nonetheless holds greater than 511,000 Tesla shares, price about $594 million, based mostly on Monday’s closing value of $1,162.

Tesla shares

sank practically 5% Monday after CEO Elon Musk mentioned he would “abide” by a Twitter poll he posted Saturday, asking whether or not he ought to promote 10% of his shares within the electric-vehicle firm. Voters mentioned “sure.”

Some famous that Elon Musk mentioned in a September interview that he already planned on selling a large block of his stock options in the fourth quarter, and that selling now could save him billions of dollars in taxes, in comparison with if he bought them subsequent yr.

Tesla shares not too long ago hit an all-time excessive of $1,243, and are up 65% yr up to now – principally coming previously three months. The inventory is up an much more spectacular 176% over the previous yr.

https://www.marketwatch.com/story/tesla-director-kimbal-musk-sells-nearly-110-million-in-stock-11636419275?rss=1&siteid=rss | Tesla director Kimbal Musk sells practically $110 million in inventory


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