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Factbox-Tesla's Musk sells shares worth nearly $13 billion - Metro US

Factbox-Tesla’s Musk sells shares worth nearly $13 billion

FILE PHOTO: Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai

By Hyunjoo Jin

(Reuters) -Tesla Inc Chief Executive Officer Elon Musk has sold nearly $13 billion worth of shares since early November when the world’s richest person polled Twitter users about offloading 10% of his stake in the electric-car maker.

The billionaire sold another 934,091 shares for $906 million on Monday to pay for taxes on the exercise of stock options to buy 2.13 million shares in Tesla, according to U.S. securities filings.

Here is a string of transactions he has done:

DATE SHARES ACQUIRED SHARES SOLD GROSS PROCEEDS

NOV. 8 2.2 mln

NOV. 8 934,091 $1.10 bln

NOV. 9 3.1 mln $3.35 bln

NOV. 10 500,000 $527.3 mln

NOV. 11 639,737 $687.3 mln

NOV. 12 1.2 mln $1.24 bln

NOV. 15 2.1 mln

NOV. 15 934,091 $930.7 mln

NOV. 16 2.1 mln

NOV. 16 934,091 $973.4 mln

NOV. 23 2.15 mln

934,091 $1.05 bln

DEC. 2 2.1 mln

934,091 $1.01 bln

Dec.9 2.17 mln

934,091 $963.2 mln

Dec.13 2.13 mln

934,091 $906.5 mln

Total 14.96 mln 11.97 mln $12.74 bln

HOW DID MUSK SELL?

Musk said on Nov. 6 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.

The tweet was vague. Musk 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.

(Reporting by Hyunjoo Jin in San Franscisco and Subrat Patnaik and Akash Sriram in Bengaluru; Editing by Stephen Coates)

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