Tesla shares give way: Musk hits more Tesla shares for billions | 12/29/21

Elon Musk has cashed in additional shares in electric car maker Tesla.

The richest person in the world has currently sold about 934 thousand shares worth 1.02 billion US dollars (900 million euros is good), according to a letter to the US Securities and Exchange Commission. This brings the Tesla chief closer to his goal of reducing his stake in Tesla by ten percent.

At the beginning of November, Musk agreed to sell a tenth of his shares in the electric car maker via a Twitter vote. Since then, he has sold shares in silver in several transactions. With the latest sale, Musk has sold about 15.6 million shares for a total of $16.4 billion so far. Musk got Twitter users to vote whether he should give up ten percent of his Tesla stock in order to pay more taxes. To reach the 10 percent target, he would have to sell about 17 million shares. Musk is the single largest shareholder in Tesla. According to Bloomberg News calculations, his net worth is currently $278.9 billion, up nearly 80 percent this year alone.

By the end of trading, Nasdaq-listed Tesla stock was down 0.21% to $1086.19.

/ people / stc

New York (dpa-AFX)