By Hyunjoo Jin and Subrat Patnaik
- Tesla Inc Chief Executive Elon Musk has sold nearly $9 billion worth of shares since the world's richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.
He sold a combined 8.2 million shares, which is nearly half of the 10% stake that he had pledged to sell.
Here is a string of transactions he has done since Nov. 8.
GROSS PROCEEDS
DATE SHARES ACQUIRED SHARES SOLD
2.2
NOV. 8 mln
$1.10
NOV. 8 934,091 bln
$3.35
NOV. 9 3.1 mln bln
NOV. 10 500,000 $527.3 mln
NOV. 11 639,737 $687.3 mln
$1.24
NOV. 12 1.2 mln bln
2.1
NOV. 15 mln
NOV. 15 934,091 $930.7 mln
2.1
NOV. 16 mln
NOV. 16 934,091 $973.4 mln
6.4 $8.81
Total mln 8.2 mln bln
HOW DID MUSK SELL?
Musk on Nov. 6 said he would sell 10% of his stake if Twitter users agreed. He owned a combination of about 244 million shares through his trust and stock options, bringing his stake in Tesla to about 23% as of June 30. It included 170 million shares held by his trust.
Musk's tweet was vague. He did not outline if he was intending to offload 10% of his shares he indirectly owned through the trust or if his stock options were also part of the deal.
Musk had an option to buy 22.86 million shares at $6.24 each, which expire on Aug. 13, 2022, according to a Tesla filing.
After buying about 6.4 million stocks, he has options for about 16.5 million more shares he needs to exercise by next August.
