SpaceX founder and Tesla CEO Elon Musk visits the development website of Tesla’s gigafactory in Gruenheide, close to Berlin, Germany, May 17, 2021.

Michele Tantussi | Reuters

Tesla CEO Elon Musk offered about $1.05 billion in inventory on Tuesday night, in line with monetary filings posted this week. The gross sales have been scheduled in September to train choices that have been set to run out in 2022.

Musk has offered a complete of $9.85 billion in Tesla inventory this month, together with the $6.9 billion he offered the week of Nov. 10 and one other $1.9 billion he offered on Nov. 15 and Nov. 16. Some of the shares have been offered partially to fulfill tax obligations associated to an train of inventory choices.

Musk and his belief nonetheless maintain greater than 169 million shares within the firm.

Tesla shares fell 15.4% the week ended Nov. 12, marking the worst week for Tesla inventory in 20 months after Musk started promoting shares. Shares of Tesla have been up about 1% on Wednesday afternoon.

Musk ran a casual Twitter ballot on Nov. 6 asking his greater than 60 million Twitter followers whether or not or not he ought to promote 10% of his Tesla inventory. The ballot finally ended with customers telling Musk to promote.

But, Musk had already indicated earlier this 12 months he was more likely to promote “an enormous block” of his choices within the fourth quarter. During an look on the Code Conference in September, he stated when his inventory choices expire at Tesla, his marginal tax fee can be over 50%.

CNBC’s Lora Kolodny contributed to this report.

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Correction: Updated to mirror shares of Tesla fell 15.4% for the week ended Nov. 12, not the week ended Nov. 19.


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