Elon Musk unloads Tesla shares for over $10 billionNY Post, Dec 3, 2021
Elon Musk’s stock selling spree continues.
The world’s wealthiest man sold 934,000 Tesla shares worth more than $1 billion on Thursday, according to securities filings.
That brings the total value of dumped shares over the past month to more than $10 billion.
The sell-off comes after Musk — who is worth an estimated $284 billion — tweeted in November that he planned to sell 10 percent of his stock in the electric car company.
The sales are potentially part of a plan to cover a massive federal tax bill of nearly $11 billion triggered by Musk exercising Tesla stock options.
Telsa stock price has declined 10.7 percent over the past month during Musk’s selling spree. Some investors have said that Musk’s sales are putting pressure on the company’s sky-high shares, which are a favorite among retail investors and are still up nearly 50 percent since the beginning of 2021.
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