Tesla (TSLA) CEO Musk Sells $1.1 Billion in Stock

Tesla (NASDAQ: TSLA) CEO, Elon Musk, exercised options on 2,154,572 shares and sold 934,091 shares so far at prices between $1196 and $1135 per share, for proceeds of around $1.1 billion.

The sales were made on 11/08.

The sale was not a huge surprise. Musk recently conducted a Twitter survey asking if he should sell 10% of his holdings. More than 3.5 million votes were cast with 57.9% voting “yes.”

Musk said since he doesn't take a cash salary or bonus from anywhere, so the only way for him to pay taxes personally is to sell stock.

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