Stock Groups

Musk exercises more options, sells Tesla shares worth $1.01 billion

Elon Musk is an entrepreneur and businessman. He gestures to the Tesla Gigafactory plant in Gruenheide.

Patrick Pleul | AFP | Getty Images

Tesla Chief Executive Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $1.01 billion to meet his tax obligations related to the exercise of options to buy 2.1 million shares, regulatory filings showed on Thursday.

Early November saw the richest person in the world tweet that he wanted to sell 10% of stock, if people on the social media site approved. Most of them agreed to the sale.

Musk, who has 10.7m shares in his options and sold 10.1m shares for $10.9billion since Nov. 8, 2018, has done so.

Musk has the option of buying another 10 million shares for $6.24 per share, following a series of options exercises. This option expires next August.

CNBC Pro provides more details about electric vehicles

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.